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Online Casino Companies Rebounding from UIGEA

A subsidiary of the Austrian company Bwin, Ongame, was severely affected by the recent anti-online casino gambling in the United States. The Unlawful Internet Gambling Enforcement Act (UIGEA) meant that many foreign based companies lost a large percentage of their annual revenue since the number of Americans betting and gambling at online casinos dropped significantly. Bwin though, the parent company, was able to bounce back in the industry largely through sports-betting.

Rather than relying on simply building up an online casino industry in other countries, Bwin has also focused company energy toward sports-betting. The first quarter of 2007 saw a rise in revenue for Bwin, and the illustrious title of being the largest online casino betting group in the world in terms of net gaming revenues and active customers. Of the 729,000 registered and active players, Bwin was pleased that over 182,000 players were real-money betters, and not just there for the non-gambling online casino games.

The company also showed some concern though over the long-term figures, though enrollment is up from the previous year, it still seems to fluctuating significantly throughout the four quarters of 2006. Some of the less promising aspects of this quarter’s report were attributed to both the management, and the lowered budget for marketing the online casino and betting sites.

According to an investor’s report: “In the short term, the Company could therefore face weaknesses in the activation of customers and less dynamic growth of new customers. Apart from this, at the beginning of March 2007 the company also temporarily suspended its offering of online gaming products in Turkey.”

The verdict on online casino gaming products is still out, but the company is planning on a promising second quarter, and looking forward to what 2008 will bring.