Vienna - The Austrian-based online betting company bwin on Thursday reported a rise in net profits by 1.1 million euros (1.7 million dollars) to 11 million euros for the first quarter of 2008.

Adjusted earnings before interest, taxes, amortization and depreciation (EBITDA) were up to 25.8 million euros, compared with 24.4 million euros for the same period last year, bwin said.

The company reported an increase of gross gaming revenues by 21.3 per cent to 104.6 million euros. Net gaming revenues were up 17.5 per cent to 91.9 million euros, mainly attributable to an increase from sports betting and poker.

Turnover for sports betting rose to 698 million euros, a 12.3-per-cent increase compared to the fourth quarter of 2007, or 38.4 per cent compared to Q1 2007.

The number of active customers therefore rose by 19.5 per cent to 925,000 and the number of new active customers was up 27.9 per cent to 254,000, the company said. (dpa)