bwin Poker Revenue Grows 22 Percent in First QuarterGross Poker Revenue Jumps Almost a Quarter at bwin Between January and March 2010 |
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Austrian bookmaker bwin today reported first quarter gross poker revenues up 22.4 percent in the first quarter of 2010 to €38.1 million from €31.1 million a year earlier.
Revenue also expanded 1.2 percent from the fourth quarter of 2009 when it was €37.7 million.
However stripping out the results of Italian poker network Gioco Digitale, which bwin purchased last year, gross poker revenue was down 17.3 percent to €25.8 million.
The company attributes this primarily to its preperation for a move into the soon-to-be licenced French market and subsequent delays to product launches as well as “increased competition from companies still offering real-money poker to US customers. This gives them significant unfair advantages in terms of size with respect to player liquidity and free cash flow generation.”
Net poker revenues grew by a modest 1.4 percent to €26.6 million while the number of active customers leapt 40 percent to 565,270 from 403767 in the same period of 2009.
bwin’s last full year figures, for 2009, saw poker expand by 26 percent.
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