Results for the second quarter and the first half of 2010
On 19 August 2010 bwin Interactive Entertainment AG has announced its results for the second quarter and the first half of 2010 ending on 30 June 2010 (unaudited).
Highlights of business development in Q2 2010
- Record turnover for sports betting due to successful Soccer World Cup underscores market leadership
- Promising start to sports betting and poker in France at end of Q2
- Result temporarily affected by intensive preparations and start-up costs in lead-up phase in calculated move in anticipation of further regulation of online gaming markets in Europe
- First mover: Competitive advantage achieved by targeted marketing campaign in France immediately after granting of licence
- Poker and casino affected by World Cup and seasonal trend
- Significant growth for games
Q2 2010 (pro forma consolidated)
- Gross gaming revenues of EUR 127.2 million, or EUR 113.8 million excl. Gioco Digitale (Q2 2009: EUR 95.1 million)
- Sports betting margin 7.2 % (Q2 2009: 5.9 %)
- Net gaming revenues of EUR 100.4 million, or EUR 93.1 million excl. Gioco Digitale (Q2 2009: EUR 77.8 million)
- Record number of active customers: 1,381,000 active and 360,000 new active real-money customers (plus 30.7% and plus 43.5% respectively)
- EBITDA (adjusted*) of EUR 11.0 million (Q2 2009: EUR 15.1 million, or EUR 9.7 million excl. effects of German Soccer League marketing rights)
- Result after tax of -EUR 2.8 million (Q2 2009: EUR 0.1 million)
Merger of bwin and PartyGaming
- Implementation of merger on schedule with conclusion expected in Q1 2011
- Proposed merger with PartyGaming opens up new opportunities strategically, financially and operationally
- Consolidated company will be market leader in poker, sports betting, casino and games, particularly bingo
- Merger to ensure optimal positioning to take advantage of growth potential due to regulation of European and international gaming markets
* Excluding non-cash expenses in connection with share-based payment (IFRS 2) and one-off effects in connection with proposed merger.