Bwin released its financial results for the first quarter of 2009 showing a 11.1 percent year-on-year rise in net gaming revenues to a record €102.1 million.
Turnover from sportsbetting boomed during the period. Poker turnover rose a massive 37 percent buoyed by the fantastic development of the firm's Italian poker business alongside the successful migration of the various poker labels to Bwin Poker as well as good cross-selling activity.
Bwin stated that gross revenues from its casino and games business grew by just under 10%. The growth of its games business was attributed largely to the expansion of its product portfolio along with the launch of its Italian skill games site at Bwin.it. The first quarter of this year also saw the number of active customers rise to 1.16 million while Bwin attracted 295,000 new players.
As a result of this stellar performance Bwin report a 72.9 percent increase in earnings after tax of €18.9 million alongside a massively improved net cash position of €70.8 million. One must surely figure they will now focus on consolidtating the European sports book market competing with the likes of Betclick who are owned by Mangas Capital and who were prominently promoted at last weeks Monaco Grand Prix.
