European Online Casino Giant Releases Reports
Vienna listed Bwin Interactive, the largest online gambling group in Europe, has released its financial reports of the second quarter of 2007. Although sharp losses have been stopped, the firm is still showing losses in some areas. During the quarter, the company lost Euro 6.5 million which might sounds pretty alarming to most of us. However, in comparison with the same period of last year, within the company lost Euro 28.6 million, the numbers can be interpreted as favorable.
Looking deeply into the figures you can see that gross gaming revenues were up at Euro 75.6 million in comparison with the US-exclusive Euro 73.6 million reached last year. Additionally, sports betting gross revenue were down at Euro 37.4 million in comparison with the Euro 41.6 million recorded in 2006. All in all, the large online casino firm is adapting to the new situation. It’s been one year alone since the United States gambling market was shut down legal-wise and the European giant is looking for new ways to generate revenue. Looking at the numbers, the picture is no that grim. Although the company didn’t generate as much revenue as it did when the American market was open, you can’t really say that these figures indicate a serious problem.
Online gambling firms that enjoyed a steady flow of income generated by the United States online casino market are expected to show such results. Some companies found themselves struggling for their very existence, while other firms found new resources and new markets to explore. We will have to wait another year or so to tell what the face of the online casino business community is really like. And besides, with recent developments in the United States we might even see the American market becoming a regulated market where online casino business is welcome.