euro adhoc: bwin Interactive Entertainment AG / quarterly or semiannual financial statement / Results for the first quarter 2008

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quaterly report

15.05.2008

Vienna, 15 May 2008. bwin Interactive Entertainment AG results for
the first quarter 2008

Q1 2008 (pro forma consolidated)

Record gross gaming revenues: up 21.3% to EUR 104.6 million (Q1 2007:
EUR 86.2 million)*

Record sports betting gross gaming revenue: up 27.4% to EUR 60.6
million (Q1 2007: EUR 47.6 million): sports betting margin of 8.7%*

Record net gaming revenues: up 17.5% to EUR 91.9 million (Q1 2007:
EUR 78.2 million)*

925,000 active and 254,000 new active real-money customers (up 19.5%
and 27.9% respectively)

EBITDA (adjusted) at EUR 25.8 million (Q1 2007: EUR 24.6 million)

Result after tax EUR 11.0 million (Q1 2007: EUR 9.9 million)

*2007 excluding Turkish operations, which ceased at the beginning of
March 2007.

In Q1 2008 bwin continued to chart its profitable growth course,
reporting an adjusted EBITDA margin of 28.1% with record net gaming
revenues.

In Q1 2008 bwin generated gross gaming revenues (sum of gross gaming
revenues from betting operations, poker, casino and games) of EUR
104.6 million. This represented an increase of 21.3%, compared to the
same period the previous year (Q1 2007: EUR 86.2 million).

Turnover for sports betting rose 12.3% compared to Q4 2007 to EUR 698
million, or 38.4% compared to Q1 2007. With a sports betting margin
of 8.7% (Q4 2007: 9.6%; Q1 2007: 9.4%), bwin reported sports betting
gross revenues of EUR 60.6 million. This represented an increase of
27.4% compared to the same period the previous year.

Net gaming revenues (gross gaming revenues less all deductions such
as betting duties, casino taxes and bonuses granted to customers)
amounted to EUR 91.9 million in Q1 2008. This represents an increase
of 17.5% compared to Q1 2007. This was attributable mainly to an
increase in net gaming revenues from sports betting to EUR 52.3
million (up 22.6% compared to Q1 2007) and poker to EUR 20.3 million
(up 12.6% compared to Q1 2007 or up 6.8% compared to Q4 2007).

The positive development in the customer base since Q3 2007 continued
both with active and new active real-money customers in Q1 2008. The
number of active customers therefore rose by 19.5% to 925,000 (Q1
2007: 774,000), whilst the number of new active customers was up
27.9% to 254,000 (Q1 2007: 199,000).

After adjustment for non-cash expenses (IFRS 2 - share-based
remuneration) in the amount of EUR 4.1 million, EBITDA (earnings
before interest, taxes, depreciation and amortization) in Q1 2008
improved compared to the same period the previous year to EUR 25.8
million (Q1 2007: EUR 24.6 million). This increase, especially by
comparison to the previous quarter (Q4 2007: EUR 13.2 million), was
largely attributable to significantly reduced operational expenses.

In Q1 2008 the Company was able to reach agreement with the remaining
sellers on a reduction of the conditional purchase price liability in
connection with the acquisition of bwin Games AB (formerly Ongame
Group). In the quarter under review, bwin stated a reversal of
impairment charges in the amount of EUR 2.6 million due to the
waiving of the remaining purchase price liability. Adjusted operating
income (EBIT) improved to EUR 16.4 million in Q1 2008 (Q1 2007: EUR
13.8 million).

A result of EUR 11.0 million after taxes and third-party interests in
Q1 2008 compares with EUR 9.9 million in Q1 2007.

The complete report on the final results on the first quarter 2008
can be found online on the bwin investor relations website at
www.bwin.ag, where it can also be downloaded in PDF format.

end of announcement euro adhoc
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ots Originaltext: bwin Interactive Entertainment AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Investoren:

Konrad Sveceny, Investor Relations

bwin Interactive Entertainment AG

Boersegasse 11, 1010 Vienna, Austria

Tel.: +43 (0) 50 858-20017

E-mail:investorrelations@bwin.ag

http://www.bwin.ag

Presse:

Kevin O'Neal, Pressesprecher

bwin Interactive Entertainment AG

Boersegasse 11, 1010 Vienna, Austria

Tel.: +43 (0) 50 858-24010

E-mail:press@bwin.org

http://www.bwin.ag

Branche: Casinos & Gambling
ISIN: AT0000767553
WKN: 936172
Index: ATX Prime, ATX
Börsen: Wiener Börse AG / official dealing


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