Betbull losses in decline

Sports betting provider Betbull has managed to reduce its losses.The company, which is based in Malta and listed on the Vienna Stock Exchange (WBAG), said today (Weds) it lost 1.9 million Euros in the first three quarters of this year after a loss of three million Euros during the same time span of 2009.Betbull, which focuses on horse and greyhound and racing, added its gaming revenues dropped from 63.1 to 58.9 million Euros year on year.Leading Austrian online betting firm Bwin holds a 37 per cent stake in Betbull.Bwin’s net profit declined from 26.9 million Euros in the third quarter of 2009 to 8.7 million Euros in the same period of this year. Bwin plans to merge with British competitor PartyGaming next year.