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The online betting company "bwin" reports EUR 539.6 million loss

The Austrian sports betting firm bwin Interactive Entertainment AG has released its 2006 financial report with a big loss of EUR 539.6 million.

bwin betting companyAccording to the report, result after tax is minus EUR 539.6 million with EUR 516.6 million in impairments as follows: EUR 515.1 million due to the depreciation of the US customer base after the pull-out of the USA market late last year, and EUR 1.6 million in impairment of the Turkish business, also in the fourth quarter of 2006.

On the positive side, according to bwin, in the Q1 of 2007 the gross gaming revenue of the company has risen 165.2% compared to the last year Q1, but this comparison excludes the US and Turkish players in Q1 2006.

Bwin have gotten 1.2 million new customers in 2006 (excluding US players) and claims to have 11 million registered players (7 million of which are "play money" customers) and 20 core markets.

The company states that they will concentrate solely on their core - sports betting and poker.


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