Bwin financial year performance to come in lower than expected

This story was published more than 10 years ago.

The giant Austrian online gambling group Bwin released its latest results this week, posting a small increase in net gaming revenues of 2.3% year-on-year to €373 million (US$ 503.7 million) in 2009. Preliminary results delivered gross gaming revenues up 6.1% to €446.6 million. Excluding the takeover of Italian gambling group Gioco Digitale the number stands at €432.7 million.

Bwin's sports betting gross gaming revenues decreased 3.8% to €226.3 million. The company noted that the previous year's result was boosted by the UEFA 2008 football championship action.

Online poker performed well, with gross gaming revenues soaring 26.1% to €118.8 million, while revenues in the Internet casino field rose 5.4% to €73.7 million. Gross gaming revenues for games increased 30.7% to €27.8 million.

Group betting turnover increased 5.1% to €3.27 billion.

Management said that EBITDA for 2009 should come in at between €100 million and €105 million, somewhat lower than the €110 million the company had anticipated earlier.

Source: InfoPowa News

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