The Austrian sportsbook said it achieved a gross gaming revenue margin from sports betting operations of only 6.7%, well below the range obtained in the previous quarters of between 8% and 10%. In the period from April 1 until the start of the soccer World Cup, the margin was 8.8%; while in the period from June 9 to June 30 it was 6.2%.
The average number of active customers per day rose during the soccer World Cup to 182,000, while in the period before the soccer World Cup (April 1 to June 8) an average of 78,000 customers were active daily.
An average of 14 bets a second were processed during the World Cup, with up to 220,000 active customers a day. At the 2004 European Soccer Championships, 1.3 bets a second were placed, with up to 32,000 active customers a day.
Due to the heavy investment made in marketing, a significant loss before tax will be posted in the second quarter.
Alfred Reisenberger, analyst at corporate finance firm CA IB, said he expected more than EUR 10 million in negative EBITDA.
Shares in BetandWin have lost two thirds of their value in the last two months and are now down to EUR 34, a level last seen 16 months ago.
In separate news, German second-division side Munich 1860 is looking for a new sponsor after being threatened with legal action over team jerseys bearing the logo of BetandWin. The Munich club has been fined by city authorities after that a Bavarian administrative court ruled that unauthorized publicity for bookmakers is illegal. BetandWin, which paid EUR 2.5 million to have its Bwin.de logo emblazoned across Munich 1860 shirts, has also sponsorship deals with German championship runners-up Werder Bremen, first division side Stuttgart and second division\’s Fribourg.
Calculators
