Austrian gambling group Bwin Interactive Entertainment AG has released disappointing results that have revealed a full year loss of Euro 539.6 million, compared to the previous year’s profit of Euro 6.4 million.

This is hardly surprising in light of the impact suffered by most online gambling concerns thanks to the Unlawful Internet Gambling Enforcement Act (UIGEA) in America.  With the loss of the US market, many big names in the industry have taken a hit.  Bwin’s results have already seen shares drop by just over 4 percent in reaction.

The company had already estimated that costs associated with the closure of its US business would be around Euro 5.5 million.  These are big numbers, yet it can be said there is light at the end of the tunnel as action to repeal UIGEA gathers momentum in the US.

Those companies that have not been killed off by UIGEA and have sought to survive through diversification can only have gotten stronger.  This has been the case for a number of online bingo halls and operators. Once UIGEA is done away with, the return of the American market will make this industry stronger than ever.

Written by John Witherspoon - Looking for free bingo online? Visit a great online bingo site and play free online bingo.

This entry was posted on Monday, April 23rd, 2007 at 3:39 am and is filed under Online Bingo. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.