Austrian Online Casino and Sportsbook Announces Results - 11-17-06

November 17 - Bwin, the Austrian online casino, sports and poker operator has announced very positive third quarter results. The company has also clarified its plans following the Unlawful Internet Gambling Enforcement Act in the US...

Bwin estimated its restricting costs due to its withdrawal from the US to be in the order of Euro5.5 million. The company forecasts gross gaming revenues of appr. Euro375 million for this financial year.

Additional to this Bwin expects to make a non-cash charge for the write-off of assets with a current net value of Euro534 million as a result of the Ongame transaction.

Gross gaming revenues for Q3 were Euro97.2 million compared to Euro35.7 million in the last year. Revenues from sports betting were Euro44.4 million compared to Euro23.3 million in 2005.

This brings gross gaming revenues for the year to date to Euro289 million, showing significant growth compared to Euro96.3 million for the same period last year.

The company reports that is has almost 1.1 million new active real money customers across all its products.

The last month has been the most turbulent the online gambling market has ever seen. Following the signing into law of the 'Unlawful Internet Prohibition Bill', many major online casino, sports betting and poker software providers as well as operators decided to pull out of the US market and stop accepting wagers from US based players.

Bwin does not accept USA online gambling players. See our USA online casinos and Online Sportsbook section for companies that do.

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