Friday 5th March 2010 Bwin announces rise in revenues
Leading online betting and gaming provider Bwin Interactive Entertainment AG has released its preliminary financial results for 2009 showing an over two percent year-on-year rise in net gaming revenues.
The Vienna-based firm revealed that betting turnover for 2009 climbed 5.1 percent year-on-year to €3.2 billion while gross gaming revenues rose 6.1 percent to €446.6 million to push its net gaming revenues to €373 million.
Bwin stated that its gross gaming revenues for the year rose 2.8 percent compared to the same period in 2008 to €432.7 million excluding its Gioco Digitale operation.
However, the firm’s sportsbetting gross gaming revenues decreased 3.8 percent to €226.3 million with a margin of 7.4 percent.
Poker gross gaming revenues rose 26.1 percent year-on-year to €118.8 million while its casino gross gaming revenues increased 5.4 percent to €73.7 million. Gross gaming revenues for games were up 30.7 percent compared to 2008 to €27.8 million while the firm revealed that it had 2.4 million active customers.
Bwin has also revealed that it will end its sponsorship agreement with Italian soccer club AC Milan as of next season after ‘four years of enormous success and satisfaction’.
“Milan has made an instrumental contribution to the further growth in our brand’s recognition and the promotion of our image within the market,” said Manfred Bodner, Co-Chief Executive Officer for Bwin.
“During the period of sponsorship, the club has won prestigious international titles including the UEFA Champions League, the UEFA Supercup and the FIFA Club World Cup. We are very grateful to the company for the opportunity to have been part of its rich and glorious success story and wish Milan an equally prosperous future.”
AC Milan has not won its domestic title since the 2004/05 season and is currently in second spot four points behind local rivals and defending Serie A champions Internazionale after 25 matches.
“We thank our friends at Bwin with whom we have worked well and fruitfully over four exciting seasons,” said Adriano Galliani, Deputy Vice-President and General Director for AC Milan.
“We also have a new triumph that we’d like to point out. In 2007, we became the club with the most titles won in the world. We achieved this together, which provides the sponsoring activities with even greater prestige. We proved on the pitch just how successful being tightly bound to our club is.”
Source: OnlineCasinoNews
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