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Beispiel Case - 1 - Einleitung: Bild

1. INTRODUCTION / POSITIONING OF THE CASE "BWIN AG"

The bwin company is a prime example of an international venture capital investment. Globalwetten GmbH was founded in 1997 by Carsten Koerl. The start-up financing was made possible through venture capital from Global Equity Partners.

The corporate strategy was repositioned and fundamentally changed as part of the entry by the management team Manfred Bodner and Norbert Teufelberger, who participated in the company themselves. In this step, the company was renamed betandwin Entertainment GmbH.

In March 1998, the company started with the product Bet & Win. At the end of 1998 bwin (rebranded to "BWIN" took place in 2005) achieved gross betting sales of EUR 2.88 million with 3,372 customers and gross profit and thus net sales of EUR 215,000.00 with various sports betting on the Internet in four different languages.

In 1999 Global Equity Partners took a majority stake in the company. The next expansion steps were financed by an IPO: Global Equity Partners led bwin to the stock exchange together with the board members in 2000. Global Equity Partners remained invested in the company until 2005. In 2010 the company finally merged with the British company PartyGaming to form "bwin.party".

The strategic cornerstones of bwin's successful development were initially the liberalization tendencies in the traditional (offline) sports betting market and the emerging online sports betting business model. The online sports betting competition was - despite the low entry barriers - still negligible. It was therefore important to take advantage of the first mover advantage flexibly and quickly. The new sales channel via the Internet made it possible to work the market intensively with low investment costs. In a traditional sports betting shop (such as Admiral Sportwetten), however, investments of around EUR 300,000 per shop were necessary in order to be able to offer sports betting.

In addition, the online sports betting market was a growth market that was only just beginning its “boom phase”.

In order to build a sustainable business model, at least EUR 40–50 million was estimated to be needed through an IPO of the company. The aim was to finance the start-up losses from software development and to offer products of the highest technical and content level to establish a sustainable brand through intensive marketing and to expand regional expansion according to legal possibilities through acquisitions and cooperations.

Time to market was therefore one of the most decisive success factors.

Beispiel Case - 1 - Einleitung: Text
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Beispiel Case - 1 - Einleitung: Kunden
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