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Bwin.party 2011 Financials Show 93 Percent Rise


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While most of the world’s biggest online gaming firms have posted positive 2011
financial results, bwin.party Digital Entertainment Plc has outdone them all by
showing a 93 per cent rise in its 2011 net revenues of €674.5 million.

This is
probably unsurprising considering bwin.party is widely acknowledged to be the
globe’s biggest listed online gaming firm, with top-rated poker room
PartyPoker.com and leading sportsbook bwin.com as its flagship sites.

Both huge online gambling concerns in their own rights, when Bwin Interactive
Entertainment AG and PartyGaming plc merged in March 2011, the result was an
online gaming giant that is continuing to grow each and every month.

In 2011 Bwin Grew its Revenues to €691.1 Million

Based in the online gambling-friendly jurisdiction of Gibraltar, the
bwin.party 2011 financial results
showed that the firm grew its total
revenues over the 12-month period to €691.1 million, despite its French casino
being closed.

Bwin.party’s prof forma earnings before EBITDA grew by three per
cent to €199.3 million compared with the same period the year before, which
served to compensate a rise in gaming duties from regulated online gaming
markets.

In terms of its actual earnings from its regular operations, Bwin.party
reported a 79 per cent increase year-on-year to €168.3 million. And while the
firm reported an actual loss after tax of €414.7 million and a post tariff
deficit of €431 million, ‘robust’ was the word it used to describe its current
state of trading, with average gross daily revenues up two per cent to €2.93
million quarter-on-quarter.

Said a statement from bwin.Party Co-CEOs Norbert Teufelberger and Jim Ryan,
‘We made excellent progress in 2011. The swift execution of a number of
integration plans for our technology, people, products and brands has been
rewarded with financial synergies coming through more quickly than expected,
offsetting increased gaming duties payable as markets regulate. We remain
on-track to deliver approximately €40 million of synergies this year and €65
million in 2013.

Bwin Extending Reach into new Areas of Digital Entertainment

‘We expect to gain competitive advantage this year from additional scale and
improved flexibility that will flow from the integration and migration of our
main products to a single technology platform. As integration projects are
completed, we are channelling more resources into driving innovation across the
business and through new channels including our proprietary mobile gaming
platform. We are also extending our reach into new areas of digital
entertainment such as social gaming where we see significant potential.’

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