Bwin announce impressive Quarterly results
26th November, 2008
Bwin Interactive Entertainment have announced an impressive 10.9% increase in net gaming revenues. Last year the revenue stood at $95.3 million however this Quarters results were $105.7 million.
Traditional the third yearly quarter for many betting firms was the worst as the numbers of major sporting events taking place is reduced from the summer period. This year the European championship provided a decent second quarter for Bwin and several other major online betting companies.
In the current economic recession, Bwin are aiming to cut spending in brand development, marketing and IT departments to consolidate their market position.
A statement by the Austrian firm, “Over and above this, Bwin focuses even more strongly on its existing markets while, at the same time, pursuing a less aggressive expansion of its product pipeline.”
The statement went on to say, “Projects with a return on investment of more than a year will, therefore, be postponed in favour of maximizing cash flow. Intensified quality management coupled with the reinforcement of innovative processes will enable Bwin to steadily develop new products.
"This will eliminate parallel developments and optimise the product life cycle.”
By Jamie
