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Bwin first Half Results
The Vienna-listed online gambling group Bwin released its H.1 2008 numbers this week, showing soaring gross gaming revenues for the first half 2008, which rose 25.6 percent to Euros 207.2 million (H1:2007 Euros 165 million). Sportsbetting gross gaming revenues were especially positive, rising 37 percent to Euros 119.8 million with margins at an impressive 8.3 percent.
Group EBITDA rose to Euros 36.5 million, up Euros 2 million from the same period last year, thanks to an active customer base that grew by 31 percent to 1.43 million accounts, 550 000 of them new active real-money players (up 45.6 percent)
The company revealed that its new gaming portal had performed satisfactorily, helping to deliver Q.2 revenues that were up 35.8 percent on Q.2 2007 and reached Euros 102.7 million. During Q2 sportsbetting revenues jumped 58 percent to Euros 59.3 million, with margin at almost 8 percent.
Net gaming revenues (NGR) were up 32.7 percent to Euros 88 million, with sportsbetting contributing Euros 50.4 million, although poker NGR was less attractive, declining 5.4 percent on last year’s figure to Euros 18 million. Online casino NGR climbed 13.7 percent to Euros 15 million and other games were up 56.3 percent to Euros 4.6 million. EBITDA for the quarter was Euros 10.6 million, an increase of Euros 700 000 over the comparable period.
Despite the successes, after tax results showed a loss of Euros 6.7 million, compared with a loss Euros 5.6 million in 2007.
The company revealed that marketing expenses rose to Euros 37.6 million, with marketing expenditure per new active customer reduced to 12.2 percent or Euros 166.3 - including bonuses. Gross gaming revenues per active customer fell 5.9 percent compared to 2007, with the new b'inside loyalty program performing well.
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Gambling News :
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
Why is FullFlush Poker Still Down -
Its now almost a month since Full Flush Poker went offline "for a platform upgrade" and stopped communicating with its reportedly many unpaid and unhappy players. All trace of the operator - and means to communicate with it - have vanished.
Time Running Our For Pennsylvanian online gambling -
Hopes that this week would see the Pennsylvanian Senate voting on an online gambling and DFS legalization bill already passed by the House four months ago dwindled Wednesday when no progress was made and the legislatures season officially closed.
Yggdrasil Gaming Expanding -
The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.
FanDuel and DraftKings Settle With NY Attorney General -
Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.
Stan james Now Live With EPOS -
The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.
Singapore Online Gambling Ban Begins -
Singapore media reports indicated Tuesday that restricted online gambling services offered by the Singapore Pools have started online operations, whilst Singapore Turf Club will commence online betting activity on November 15.
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