BWIN to shortlist 3-4 countries for Asian market entry in coming weeks

BWIN to shortlist 3-4 countries for Asian market entry in coming weeks - co-CEO

	Published : Thu, 15 Nov 2007 10:26 By : Agencies Print this Story

FRANKFURT (Thomson Financial) - BWIN Interactive Entertainment AG plans to shortlist in the coming weeks three to four countries for its planned market entry into Asia, co-CEO Norbert Teufelberger said.

The Austrian online gaming company is currently examining 10 possible candidates for Asian market entry, he said during a presentation following the release of third-quarter results.

BWIN is expanding into new markets to win customers and offset the effect of tightening regulation in some of its major markets. The company recently started operations in Romania and is planning a retail pilot project in Spain.

Teufelberger also said the company plans to 'enhance' its operations in Italy in the first half of 2008 and expects to see first positive results in Argentina in the first quarter of 2008.

Commenting on the company's financial results, Teufelberger said he sees the 'positive trend for sports betting continuing.'

Margins in the competitive sports betting division improved to 8.5 pct in the third quarter, compared with 7.2 pct in the second quarter.

'We are optimistic that we will stay within the 8-10 pct bandwidth for the full year,' Teufelberger said.

He also said legal developments in the third quarter 'give grounds for optimism,' with the legal environment being 'clearly more favorable.'

The European Court of Justice in March ruled that Italian authorities breached European Community law when they applied criminal law to stop online betting companies licensed in other EU countries from taking bets in Italy.

And in France, a case in which management board member of BWIN are accused of infringement of the French gaming monopoly has gone back to an appeals court.

BWIN is also preparing a motion for a declaratory judgment against the German state treaty on the gaming industry, which effectively bans private companies from taking wagers on sporting events.

maria.sheahan@thomson.com

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BWIN to shortlist 3-4 countries for Asian market entry in coming weeks - co-CEO