Bwin may be well and truly snug as a bug in a rug with their BFF PartyGaming, however, their Q3 figures may motivate them to get the merger sorted at a faster rate than they are already. The results aren’t all doom and gloom for the Austrian gaming company though.
Total revenues for the quarter were up 17.7% year-on-year, Bwin commenting, “growth of gross gaming revenues was attributable to sound development of sports betting, poker and games.”
Their entry into the French market has caused some figures to drop off. Earnings before interest, tax, depreciation and amortisation (EBITDA) decreased by 41.7% to €9.8m in Q3 2010 from €16.8m in Q3 2009. Bwin commented that it was “impacted by one-off expenses associated with the market entry in France and preparations to take advantage of forthcoming regulation in number of jurisdictions”
The number of active poker players was up 70% in France since the market regulation, and they even told us that the “planned merger will create competitive advantage due to synergies and scale in a multi-jurisdictional regulated market environment”
Bwin is also very interested in the developments in Germany following the recent announcements by the ECJ concerning regulation in the country.