Vienna-listed Bwin has plans to expand outside of its traditional European market. The bookmaker and online gambling group is trying to make a presence in as many as four South American countries over the next two years. This is a big step for the company, which would tap into an even broader football market.
Bwin hasn’t given up on the United States market either, depending on the future of the Unlawful Internet Gaming Enforcement and Regulation Act (UIGEA). Measures are being attempted to regulate the online gambling industry and generate revenue for the U.S., which would take the UIGEA off the table.
Bwin Chief Executive Officer Norbert Teufelberger spoke about the future plans for the company.
“We are in talks with possible partners from the casino and media areas,” Teufelberger said. “We want to start by 2011 at the latest.”
Teufelberger said that Bwin has received offers for its internet poker subsidiary, which was purchased for half a billion Euros right before the UIGEA was passed back in 2006 to the surprise of the industry.
“We have received offers of in and about its purchase price, but we are not interested,” Teufelberger said.
Bwin recently revealed it’s first quarter gross gaming revenue for 2010. The company is up 12.5% year-on-year. However, it is considered down 1.3% without the contribution from Gioco Digitale, the Italian operator acquired by Bwin back in September of 2009. The Austrian operator’s 2009 earnings before interest, tax and debt were €102.2 million. This was a 6% rise from the previous year and 2% rise in net revenue to €373 million.