Bwin Revenue Increases 15.2% To €514.5 Million In 2010March 24, 2011 11:17 am
Ahead of its 31st March merger with PartyGaming, Austrian betting giant Bwin has just released its last annual report showing a 15.2% increase in its gross gaming revenues for 2010 to €514.5 million (£448 million).
The core business at Bwin is sports betting with a particular emphasis on soccer. This area continued to help drive Bwins impressive results and the company said it intends to further consolidate its association with Europe’s leading soccer clubs. A Bwin statement read:
“Bwin’s brand has become synonymous with sport through its sponsorship of some of the world’s biggest names in sport, such as Real Madrid and Bayern Munich. Its long-standing cooperation with soccer clubs like these and the Italian and Portuguese soccer leagues testify to the company’s continuing commitment to top soccer.”
Bwin’s other offerings include casino games, and soft games, including backgammon. However, it is Bwin’s online poker business which continues to impress, having recorded a 17.4% increase in gross gaming revenue for 2010 to €139.5 million compared to €118.8 million a year earlier.
Bwin’s promising poker results were for the most part explained by the company’s presence in Italy [Gioco Digitale] and France. As well as having around five million online customers accounting for 22.3% of the Italian market, Bwin also continues to maintain its position as “one of the leading online poker providers in France.”
However, the company has warned against complacency and alluding to the uncertain online poker situation in America, commented:
“Whilst these newly regulated markets are performing well [Italy, France], the international poker business is still dominated by poker providers offering real money gaming to US customers, giving them significant advantages of size and player liquidity.”
Recently, Party Gaming also announced a 15% yoy rise in its overall revenue for 2010 and looking ahead, the companies’ upcoming merger is set to create the world’s biggest publicly traded online gaming company. It will have a dual net worth of around $4 billion and its headquarter will be based in Gibraltar.