Bwin's profits up for quarter 3

Profit soars 75 percent over same time last year

The Vienna-listed online gambling group Bwin has posted an outstanding set of third quarter 2009 results, with profit rocketing 75 percent over the same period last year.

Despite the traditionally quiet nature of the quarter, Q3 EBITDA rose to Euro 16.8 (Q3 2008: Euro 9.6 million) thanks to solid sportsbetting results. Gross gaming revenues rose 5.3 percent to Euro 101 million, due mainly to a 3.4 percent increase in sports betting gross revenues to Euro 52.7 million.

Online poker revenues were sluggish, rising only 1.3 percent to Euro 23.1 million, overshadowed by online casino performance that saw revenues rise 7 percent to Euro 18.1 million. The group’s smaller games division outshone them all with a 36.5 percent surge to Euro 7 million.

At Euro 83.3 million (Q3 2008: Euro 83.7 million) there was little change in net gaming revenue over the quarter, principally due to the cost of new acquisition and retention measures involved in the launch of subsidiary Ongame's new P5 poker platform and higher betting duties following the encouraging growth of online gaming in Italy.

Betting turnover from betting, poker, casino and games in the third quarter was up 8.2 percent to Euro 790.9 million (Q3 2008: Euro 730.8 million) This was achieved through an 8.3 percent rise in sports betting turnover to Euro 742.6 million (Q3 2008: Euro 685.9 million).

Active customers grew 18.7 percent to 1.1 million, from 892 000, with new active customer numbers growing 39.1 percent to 258 000, from 185 000.

Management reported that the growing popularity of live betting has resulted in a shift in the proportion of turnover away from traditional sports betting to live betting, with live betting’s share of the gross gaming revenues from sports betting increasing to 57 percent for the last quarter, from 55 percent in the third quarter of 2008.

Bwin is optimistic on the Italian market, in which it achieved strong positioning through the recent acquisition of Gioco Digitale, a major Italian online gambling group. The Bwin statement speaks of the 'booming' Italian market in glowing terms, noting that the regulatory regime is "modern and proactive."

Fourth quarter trading is off to a good start, Management reports, with gross gaming revenues during the first six weeks, excluding Gioco Digitale, of Euro 1.45 million, or almost a third better than the Euro 1.1 million previously recorded. Including Gioco Digitale, this figure rose to Euro 1.63 million, 48 percent above the figure achieved at this point in the last quarter.

Live activity feed

  • Index
    "Drawing a line under this now.  Problem solved - see my private message to you.. "
  • Alenvers
    " MelissaN wrote: Hi claralie, The rep has been notified again and hope he'll get back to us soon with the clarification.  THANK You Melissa i see your post just  now ( 9 hours after) yes  sure there is a reaction  without an email or any explanation they cancelled my  pending winnings of  $200- this morning they was always in pending in my account. WOOOO real gentlemen - nothing at least as usual - they cant say the contrary of their last email i think.How explain that one day before as they rules said i am  not eligible for a bonus and one day after i am eligible ?and the problem is that i won the first day so how be clear when the second day i became eligible for  a  bigger bonus and that i have te permission to cashout ..but.nothing i lost.   there  will be any explanation I think:the only available that works in any same kind of   situation is that rules  can be changed as and when and how the casino wants - rules - no rules what importance  it was  a  freebie why will they pay ?i am stupid this is  the explanation. "
  • No avatar small
    Sign Up Bonus
    Lord lucky logo

    Lord Lucky Casino

    / 11 votes
  • Tumblr nsdzsdacgp1s7vusdo1 250
    Expires on 27th Oct 2016
    Vip stakes

    VIP Stakes

    / 279 votes
  • Tumblr nsdzsdacgp1s7vusdo1 250
    Expires on
    Yebo casino logo

    Yebo Casino

    / 269 votes
  • Index
    " mamt35 wrote: Nothing for usual lol im a depositing player & i got the 5 free spins"
Swipe left or right to see more

lcb activities in the last 24 hours

  • 45
    new members
  • 599
    members online
  • 15835
    guests online
  • 116
    new posts
  • 17354
    free games played
Join the club

Highest Community Rated Online Casinos

Swipe left or right to see more

Latest forum posts

Join today and start earning rewards

You will immediately get full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.
S logo

Report to moderator

Use this function to inform the moderators and administrator of an abusive or wrongly posted message.

Please note that your email address will be revealed to the moderators if you use this

Select Language
Search Results