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BWIN 2010 RESULTS RELEASED
Posted 3./23/11 : Development of business in Q4 2010 defined by forthcoming merger
The publicly listed Austrian online gambling group Bwin Interactive has published its full year 2010 and Q4 2010 results, noting that its merger with Party Gaming plc has been influential in Q4.
The internet gambling giant boasted that it is now established as one of the leading internet poker providers in France and a top three player in Italy, with further expansion scheduled in 2011.
Preparations for forthcoming regulation in a number of European markets resulted in one-off expenditure for consulting and system development
There has been continuing increases in turnover and customer volume in the sports betting vertical, although gross gaming revenues were slightly down year-on-year due to lower sports betting margin and intense competition in poker.
EBITDA was impacted by IT-related expenditure in preparation for the merger with Party Gaming and forthcoming regulation in Europe. There has also been some reorganisation by product verticals in preparation for the Party Gaming merger, which is scheduled for implementation at the end of March 2011.
Management reported that current development of the business is ahead of expectations, and that operational costs have been cut.
Q4 highlights included:
* Average daily gross gaming revenues (1 January – 17 March 2011) up 10.5 percent compared to Q4 2010 and up 6.2 percent compared to Q1 2010 to Euro 1.57 million
* Average daily net gaming revenues (1 January – 28 February 2011) up 5.2 percent compared to Q4 2010 to Euro 1.18 million
* Expenses for services received (such as external software writing and maintenance, consulting) for January and February 2011 down by approximately 15 percent compared to the monthly average of Q4 2010
* Gross gaming revenues of Euro 130.8 million (Q4 2009: Euro 132.9 million)
* Record sports betting turnover of Euro 917.0 million (Q4 2009: EUR 786.4 million)
Oink Country Love Slot Launches -
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Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
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Sensational Sixes Slot Goes Live -
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3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
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