bwin Interactive Entertainment AG: First Quarter 2010

PR Newswire | 12 May, 2010
VIENA (Austria): Key financial indicators (pro forma consolidated, unaudited)

    EUR million           Q1 2010 Q1 2009 % YoY Q4 2009 % QoQ
    Gross gaming revenues   133.2   117.6 13.2%   132.9   0.2%
    Net gaming revenues     109.2   102.1   7.0%   109.8 -0.5%
    Total revenues          120.1   119.4   0.5%   125.4 -4.2%
    EBITDA (adjusted*)       30.3    36.0 -15.8%    34.3 -11.7%
    EBITDA                   29.1    33.7 -13.7%    30.9 -6.0%
    EBIT                     18.2    21.9 -17.0%    21.2 -14.2%
    Result after tax         17.6    18.9 -7.3%    19.3 -9.2%

    Highlights of business development in Q1 2010

    - Record turnover for sports betting underlines market leadership
    - bwin optimally positioned to seize opportunity resulting from
      Soccer World Cup, opening-up of French market and additional product
      launches in Italy

    Q1 2010 (pro forma consolidated)

    - Gross gaming revenues of EUR 133.2 million, or EUR 116.7 million
      excl. Gioco Digitale (Q1 2009: EUR 117.6 million)
    - Sports betting margin 7.5% (Q1 2009: 8.2%)
    - Net gaming revenues of EUR 109.2 million, or EUR 100.7 million
      excl. Gioco Digitale (Q1 2009: EUR 102.1 million)
    - EBITDA (adjusted*) of EUR 30.3 million (Q1 2009: EUR 36.0
      million) or EUR 33.1 million excl. special items** (Q1 2009: EUR 32.6
      million)
    - Result after tax of EUR 17.6 million (Q1 2009: EUR 18.9 million)

    Further significant increase in results anticipated for 2010

    - For 2010 bwin still anticipates a significant increase in both
      gross gaming revenues and profit for the year. Analysts' current EBITDA
      forecasts of the order of EUR 130 million are in line with management's
      present expectations. Compared to the original forecasts, they now
      reflect delayed product launches in Italy and the regulated opening of
      the French market in June 2010
    - April 2010 daily gross gaming revenues increased by 20.6% to EUR
      1.34 million or by 6.7% excl. Gioco Digitale (EUR 1.18 million excl.
      Gioco Digitale) compared to the same period the previous year

    *Excluding non-cash expenses in connection with share-based payment (IFRS
2)

** Adjusted EBITDA excluding marketing rights revenue to the German Soccer League (DFL) and currency fluctuations

The complete report on the results of the Q1 2010 can be found online on the bwin investor relations website at http://www.bwin.org, where it can also be downloaded in PDF format.

    Further information:

    Investors:

    Konrad Sveceny
    Investor Relations
    bwinInteractive Entertainment AG
    Borsegasse 11, 1010 Vienna, Austria
    Tel.: +43(0)50-858-20017
    E-mail: investorrelations@bwin.org
    http://www.bwin.org

    Press:

    Katharina Riedl
    Corporate Communications
    bwinInteractive Entertainment AG
    Borsegasse 11, 1010 Vienna, Austria
    Tel.: +43(0)50-858-20069
    E-mail: press@bwin.org
    http://www.bwin.org

SOURCE bwin Interactive Entertainment AG