Buongiorno Enters Gaming Market

Buongiorno has announced its entry into the online and mobile skill games market, with the launch of WINGA, which includes a set of skill games, including slot machines, roulette, black jack and baccarat, plus casino, poker and bingo.
Having secured a licence to operate in the gaming business from the State Monopoly, Buongiorno says it expects to launch WINGA by the end of Q2 2010. At the same time, the company is monitoring the evolution of regulatory procedures in other markets where it is already successfully operating in the B2C segment, in order to launch its commercial activities as soon as the regulatory framework in those countries allows it.
Italy ranks first among the regulated digital gaming markets, with a gross gambling yield volume (net revenues for operators) of more than 400 million in 2009; and a potential pool of more than 7.4 million unique users who have accessed a gaming site at least once, of which 700,000 already have a game account (source: Nielsen). Whilst the Italian mobile gaming market is just taking off, it is expected to reach a value of 2.2 billion in 2012.
The online gaming and skill games industry is a natural complement to Buongiorno's traditional B2C business in mobile entertainment, says Buongiorno CEO, Andrea Casalini. The changes taking place in the Italian regulatory framework are opening up extraordinary opportunities to combine our technical abilities and experience in this market with an innovative, attractive and promising offer such as WINGA.
Buongiorno aims to achieve revenues of around 10 million from WINGA in the first 12 months and positive EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) within three years. Buongiorno recently reported revenues of 259.5 million in 2009, down from 316 million in 2008, and net consolidated profits of 7 million, down from 8.4 million in 2008.

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