puts temporary halt on Turkey gambling offers
- 2nd March 2007
VIENNA (Reuters) - Austrian internet
bookmaker bwin.com said on Friday it would temporarily
withdraw its online gaming offers from Turkey
after a new law was passed on Feb 28.
on one hand, the new law prohibits online games
of chance, on the other it also provides for the
possibility of acquiring a license at a later
date," bwin said in a statement.
generates about six percent of its gross gaming
revenues in the country, which meant the halt
on its Turkey business could slash gross gaming
revenues by 15-20 million euros ($26.3 million)
per year, according to a spokesman.
said it would aim to acquire a license if Turkish
authorities chose to issue any, adding it was
unclear when this could be the case.
don't really have much information on this,"
spokeswoman Karin Klein said. "Our lawyers
are investigating this."
gambling companies are facing increasingly stringent
regulation in the United States and Europe, with
governments curbing Internet gambling to protect
customers and state-run lotteries.
year, bwin wrote off most of the value of its
U.S. poker website, which it acquired for more
than 500 million euros earlier in 2006, after
the United States effectively outlawed Internet
1550 GMT, bwin shares traded down 3.0 percent
at 24.00 euros, making it the top percentage loser
in Austria's blue-chip index ATX which was up