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Record Net Gaming Revenues

The Bwin gambling group released its 2008 Q1 report, and like many of the other online casinos operating in the European market this past quarter, the company experienced fantastic growth and revenues. From net online gaming revenues to gross revenues, Bwin performed ahead of industry expectations. Included in the positive quarterly results was the fact that the online casino gambling group is reporting more active and simultaneous players on the network than ever before. Almost the entirety of the report included record breaking or above average results.

The specific revenues for the online casino gambling group’s Q1 came is as follows:
   • Net gaming revenues increased 17.5 percent to Euro 91.9 million
   • Gross online gambling revenues up 21.3 percent to Euro 104.6 million (Q1 2006: Euro 86.2)
   • New Bwin players gaming and gambling activities up 27.9 percent
   • Active current players online gambling activities up 19.5 percent

Many online casinos operating in the European market for the past quarter reported similarly lucrative results because this is a traditionally up period in the internet gambling industry. Added to the company’s profits were the sale of some of the company’s existing assets as well as various fees that the company charges for use of the Bwin name, products, of licensees.

The online casino gambling groups high profits for the quarter were certainly also affected by the fact that Bwin is a crusader in the movement to completely open the European internet gambling market and eliminated EU member-state monopolies. The online gambling group paid roughly 6 million in legal expensive related to various court cases.

A company statement notes, "In the wake of the judgments in the cases of Gambelli and Placanica, last year several national courts also submitted questions on the conformity of their gaming regulations with EU legislation to the European Court of Justice (ECJ). These include two preliminary ruling procedures from Portugal to which Bwin is a party.” Bwin has its sights set on some of the currently closed online casino gambling markets and there is every indication that the company will continue to fight the government monopolies in the courts.