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PROMISING RESULTS FROM BWIN
Vienna-listed gambling group releases YTD and third quarter results.
bwin Interactive, which has been much in the news lately due to its merger with PartyGaming, has released its 2010 YTD and Q3 results, reporting positive increases in business.
Highlights of business development in Q3 2010
- Growth of gross gaming revenues attributable to sound development of sports betting, poker and games
- Continuing increase in sports betting margin and customer volume
- Number of active poker customers up by 70 percent in France following regulation
- EBITDA impacted by one-off expenses associated with the market entry in France and preparations to take advantage of forthcoming regulation in number of jurisdictions
- Planned merger will create competitive advantage due to synergies and scale in a multi-jurisdictional regulated market environment
Q3 2010 (pro forma consolidated)
- Gross gaming revenues up 22.1 percent to Euro 123.3 million (Q3/2009: Euro 101.0 million)
- Sports betting margin 7.9 percent (Q3/2009: 7.1 percent)
- Net gaming revenues up 14.3 percent to Euro 95.3 million (Q3/2009: Euro 83.3 million)
- Active customers: 1,208,000 active and 299,000 new active real-money customers (plus 14.1 percent and plus 15.6 percent respectively)
- EBITDA (adjusted*) of Euro 9.8 million (Q3/2009: Euro 16.8 million)
- Result after tax of Euro -6.0 million (Q3/2009: Euro 7.9 million)
First nine months of 2010 (pro forma consolidated)
- Growth in all product segments
- Gross gaming revenues of Euro 383.7 million (Q1-Q3/2009: Euro 313.7 million)
- Net gaming revenues of Euro 304.9 million (Q1-Q3/2009: Euro 263.2 million)
- Active customers: 2,263,000 active and 978,000 new active real-money customers (plus 17.7 percent and plus 21.6 percent respectively)
- EBITDA (adjusted*) of Euro 51.1 million (Q1-Q3/2009: Euro 67.9 million)
- Result after tax of Euro 8.7 million (Q1-Q3/2009: Euro 26.9 million)
* Excluding non-cash expenses in connection with share-based payment (IFRS 2) and one-off effects in connection with proposed merger.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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