The Austrian bookmaker released a preview of selected key figures for the fourth quarter and for the financial year 2005, showing record results.
In the fourth quarter, total turnover was up 170% to EUR 380 million, of which EUR 361.9 million from sports betting. Gross gaming revenues (betting turnover less customer winnings) were up 145% to EUR 47.7 million, equivalent to a gross winnings margin of 8.2%.
185,000 new active customers brought the total of active sports betting customers up to 467,000.
For the financial year 2005, total turnover amounted to EUR 1,135.0 million, up 189%. Sports betting generated turnover of EUR 1,085.9 million, an increase of 187%.
Gross gaming revenues of EUR 144 million almost trebled compared to a year earlier. This included revenues generated as a result of free betting or promotion bonuses designed principally to reactivate already registered customers who had become inactive, and accounted for around 6% of gross winnings in FY 2005.
Gross gaming revenues from sports betting were up 152% to EUR 94.8 million, for a gross winnings margin of 8.7%.
As at 31 December 2005, the company had a customer base of nearly 2.1 million, including over 1 million new customer registrations recorded during 2005, an increase of 179%.
BetandWin said the acquisition of online poker giant Ongame should be concluded in the first four months of the current financial year as planned, provided the conditions specified in the share purchase agreement – such as approval by the betandwin Supervisory Board and successful financing of the purchase price – are met.
For the FY 2005, Ongame reported gross gaming revenues of EUR 107,8 million, up 135%, while in the fourth quarter it signed up 126,810 new active “real money” players.
In Germany, the Regional Court of Cologne forbade BAW International via its platform betandwin.com (and all the other betting providers concerned) to offer and/or advertise games of chance and/or sports betting in Germany, to refrain from using the terms Supertoto and Supertoto XXL and requested BAW International to disclose gaming turnover achieved in the region of Nordrhein-Westfahlen.
BetandWin is of the opinion that the relevant German laws are not in conformity with EU legislation. It therefore intends to appeal against this judgement, and will go through all the instances of appeal if necessary. Should BetandWin incur any kind of financial loss whatsoever as a result of this judgement, the company reserves the right to claim damages from Westlotto, the state games of chance monopoly in Nordrhein-Westfahlen, which in 2004 originally instituted legal proceedings against Gibraltar-based BAW International.
In view of the fact that the Italian Parlamient on 23 December 2005 approved a law establishing considerable barriers to foreign betting providers wishing to access the Italian market, BetandWin has taken the precaution of opening a fully owned subsidiary operating under an Italian sports betting license and holding a provider’s license entitling the company to broker bets between betting shops and the licenser, the Italian Ministry of Finance.
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