euro adhoc: bwin Interactive Entertainment AG / Financial Figures/Balance Sheet / bwin Interactive Entertainment AG - results for the first nine months 2008 (E)

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20.11.2008

Vienna, 20 November 2008
bwin Interactive Entertainment AG - results for the first nine months 2008

Q1-Q3 2008 (pro forma consolidated)

Record gross gaming revenues: up 20.6% to EUR 303.1 million
Record gross sports betting revenues: up 26.7% to EUR 170.9 million
EBITDA (adjusted) of EUR 46.0 million
Result after tax -EUR 2.7 million

Significant improvement in result expected in 2009:
Gross gaming revenues for 2009 total EUR 430 to 445 million
EBITDA (adjusted) for 2009 of at least EUR 100 million

In EURm               Q3/2008 Q3/2007 1-9/2008 1-9/2007 2007
Gross gaming revenues 95.9    86.2    303.1    251.3    353.5
Net gaming revenues   83.7    75.5    263.6    223.2    312.6
Operating expenses    -91.8   -81.0   -271.0   -216.6   -315.8
EBITDA (adjusted)     9.6     15.2    46.0     49.7     62.9
EBIT (adjusted)       -2.7    1.7     11.3     13.7     72.8
Result after tax      -7.0    -5.1    -2.7     -0.8     50.4

In the first nine months of 2008 bwin generated gross gaming revenues (sum of
gross gaming revenues from betting operations, poker, casino and games) of EUR
303.1 million. This represented an increase of 20.6% compared to the same period
the previous year (Q1-Q3 2007: EUR 251.3 million). The gross gaming revenues
generated from the poker, casino and games sectors amounted to EUR 63.0 million
(Q1-Q3 2007: EUR 60.7 million), EUR 54.2 million (Q1-Q3 2007: EUR 45.1 million)
and EUR 15.1 million (Q1-Q3 2007: EUR 10.7 million) respectively. This
represented increases of 3.7% for poker, 20.2% for casino, and 41.6% for games
compared to the first nine months of 2007.

After adjustment for non-cash expenses (IFRS 2 - share-based remuneration) in
the amount of EUR 12.9 million, in first nine months of 2008 EBITDA (earnings
before interest. taxes. depreciation and amortization) declined 7.4% compared to
the same period the previous year to EUR 46.0 million (Q1-Q3 2007: EUR 49.7
million). This was largely attributable to an increase in operating expenses.

Cash and cash equivalents increased by 49.3% compared to the previous year (Q3
2007: EUR 95.1 million), and totalled EUR 142.0 million as of 30 September 2008.
After deduction of customer deposits in the amount of EUR 83.0 million (Q3 2007:
EUR 64.2 million), bwin's net cash position as of 30 September 2008 increased by
91.3 % to EUR 59.0 million (Q3 2007: EUR 30.8 million).

The first seven weeks of the current quarter have accentuated the anticipated
seasonal trend improvement with a marked rise in average daily gross gaming
revenues of 25% compared to the average gross gaming revenues of Q3 2008.
Management therefore anticipates a rise in gross gaming revenues for 2008 to EUR
415 million (2007: EUR 353.5 million), with net gaming revenues of around EUR
360 million (2007: EUR 312.6 million), and an adjusted EBITDA of EUR 65 million
(2007: EUR 62.9 million).

In addition, the comprehensive cost-cutting programme introduced in Q4 should
lead to a marked improvement in earnings in 2009. It should be possible to save
around EUR 40 million in the year 2009 without jeopardizing the Company´s growth
potential. Marketing expenses will account for half this saving, the other half
coming from other operating expenses.

Based on forecast gross gaming revenues for 2009 of EUR 430 to 445 million,
management anticipates an adjusted EBITDA of at least EUR 100 million.

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

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.org
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

end of announcement euro adhoc
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emitter: bwin Interactive Entertainment AG
Börsegasse 11/Lift 3/Top floor
A-1010 Wien
phone: +43 (0) 50 858-0
FAX: +43 (0) 50 858-16
mail: investorrelations@bwin.ag
WWW: www.bwin.ag
sector: Casinos & Gambling
ISIN: AT0000767553
indexes: ATX Prime, ATX
stockmarkets: official dealing: Wiener Börse AG
language: English

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