Solid Q4 And Full Year Results From Bwin
Published: Thursday, March 20, 2008 Online-Casinos.com
SOLID Q4 AND FULL YEAR RESULTS FROM BWIN
Gross and net gaming revenues up on levels achieved before exiting US and Turkish markets.
The Vienna listed online gambling group Bwin turned in an impressive set of Q4 and full year 2007 results this week that illustrated that the group has put the US and Turkish bans on Internet gambling behind it.
Record gross gaming revenues were up 24.9 percent to Euro 102.3 million (Q4 2006: Euro 81.9 million) and sports betting gross gaming revenue soared 30.2 percent to Euro 59.5 million (Q4 2006: Euro 45.7 million) with a sports betting margin of 9.6 percent.
Poker revenue was also well up by 26.7 percent to Euro 21.8 million (Q4 2006: Euro 17.2 million) and record net gaming revenues were recorded - up 28.3 percent to Euro 89.4 million (Q4 2006: Euro 69.7 million)
The company reported that its European growth in members was a record for the industry, with 894 000 active and 234 000 new active real-money customers in fiscal 2007.
Full year numbers showed a similar success story, with gross gaming revenues of Euro 350.5 million: up 21.4 percent (FY 2006: Euro 288.6 million) and record sports betting gross gaming revenue: up 19.0 percent to Euro 191.9 million (FY 2006: Euro 161.2 million) with sports betting margins of 8.7 percent.
Full year Poker revenue rose 38.6 percent to Euro 82.3 million (FY 2006: Euro 59.4 million) and Net gaming revenues were 25.9 percent to Euro 309.7 million (FY 2006: Euro 246.0 million) Over the full year membership figures were 1,6 million active and 798 000 new active real-money customers.
