Bookmaker Bwin Has Gambling Revenue Numbers Down in Vienna Trading

Bwin Interactive Entertainment AG is an online bookmaker that sponsors one of the most successful club soccer teams in the world, AC Milan, but the sponsorship has not led to profit for the company as they announced that their revenue numbers are down.

The net loss was projected at 5.1 euros in the third quarter, and the gross gaming revenue dropped 11 percent to 86.2 million euros.

The company which is based out of Vienna has pulled back their marketing efforts by 44 percent in the third quarter, and they have been hurt by pulling out of the U.S. and Turkey markets.

In Vienna, the company's shares fell 2.88 euros, which is the sharpest drop since February, a telling sign of the business that Bwin is currently doing.

Wolfgang Matejka, a chief investment officer at Meinl Bank in Vienna, is the person who deals with Bwin stock, said, "Bwin has not made the profit some people were waiting for."

Another reason for the decline could be in Germany, where officials are trying to ban the company from taking bets. In turn, the company has stopped its sponsorship of soccer clubs in the country, such as Werder Bremen.

November 15, 2007
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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