Often at a loss where to post general poker news stories, so a dedicated Poker News thread is probably warranted.
Bwin Reports $730 Million Loss Due to Pullout from U.S.
Austrian online bookmaker/poker site Bwin announced a net loss of €540 million (equal to roughly US $702 million) for 2006, the result of its withdrawal from the U.S. market. The lion's share of the net loss came from a $701 million write-off ('impairment charge') for its Ongame unit, which lost roughly 70% of its revenue stream following the signing of the UIGEA. Bwin's European operations, however, continued to show growth.
PokerRoom runs on the OnGame Network.
Bwin Reports $730 Million Loss Due to Pullout from U.S.
Austrian online bookmaker/poker site Bwin announced a net loss of €540 million (equal to roughly US $702 million) for 2006, the result of its withdrawal from the U.S. market. The lion's share of the net loss came from a $701 million write-off ('impairment charge') for its Ongame unit, which lost roughly 70% of its revenue stream following the signing of the UIGEA. Bwin's European operations, however, continued to show growth.
PokerRoom runs on the OnGame Network.