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Bwin Good 1st Quarter Earnings
One of Europe's biggest online gambling groups, Bwin, has posted another positive quarterly report, revealing that net gaming revenues in the first quarter 2009 were up 11 percent on Q1 2008, and reached Euro 102.1 million.
Other highlights included:
* EBITDA up 39.2 percent to Euro 36 million
* EBITDA margin on net gaming revenues reached 35 percent, up from 28 percent previously. The performance has prompted Bwin to lift its prediction on fully 2009 EBITDA to over Euro 110 million.
* Gross gaming revenues rose 12.5 percent to Euro 117.6 million, and the company has raised its predicted gross gaming revenues from Euro 435 million to Euro 450 million.
* The company has Euro 70.8 million in cash, up from Euro 53.2 million at the same time last year.
Management reported that the increase in net revenue came mainly from growth in online poker and games, and the sale of Bwin’s rights to German football leagues.
On an annual basis, online poker grew 37 percent to Euro 27.8 million, whilst games rose 27.6 percent to Euro 5.6 million. Additional revenue streams included the sale of rights to the first and second German Football Leagues in the amount of Euro 7.1 million and totalled Euro 17.3 million, up from Euro 10.6 million in 2008. Sports betting was quiet with growth of only 3 percent to Euro 53.8 million, and online casino operations declined slightly from Euro 15 million to Euro 14.9 million.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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