Bwin’s poker revenue soars 26.1 % to 118.8 million euros in 2009

The company operates in over 25 important markets and has more than 20 million customers worldwide, to whom it offers sports betting, poker and casino games, as well as live streaming sporting events, such as the German Bundesliga. Bwin’s sports betting gross gaming revenue was up 3.3% to 66.6 million euros in the fourth quarter but down by 3.8 % to 226.3 million euros in 2009.

Casino gross gaming revenue was up 4.8% to 20.2 million euros in the fourth quarter and up 5.4% to 73.7 million euros in 2009, while gross gaming revenue for games was up 35.8% to 37.6 million euros in the fourth quarter and up 30.7% to 27.8 million euros in 2009.

However, Bwin’s poker service was the star of the operation and saw its gross poker revenue surge by 35.8% to 37.6 million euros in the fourth quarter and 26.1 % to 118.8 million euros in 2009 from 94.2 million euros in 2008. The company’s acquisition of Italian poker operator Gioco Digitale in September 2009 has already contributed significantly to Bwin’s annual poker figures to the tune of 12.8 million euros. In addition, the company’s active poker customers saw their numbers leap 55% to 1.05 million in 2009 compared to 678,409 in 2008.

Following release of the financial results, Analyst James Hollins said: “We continue to believe that 2010 will be a bumper year, stoked by the Italian market growth expanding into cash poker, bingo and casino games in H1 2010, customer acquisitions around the soccer World Cup and near-certain industry consolidation.”

The company’s share price has fluctuated throughout the year from a 52 week high of 48 euros to a 52 week low of 26.70 euros. Bwin’s share price is currently trading at 41.90 euros.