Thursday 11th September 2008 No Turkish Delight For Bwin
Austrian Internet bookmaker Bwin Interactive Entertainment has revealed a $3.22 million hit after its attempt to obtain a sportsbetting license in Turkey failed.
According to the Reuters news agency, the Vienna-based firm had tried to acquire the licence last year but had not given details of the financial impact of the failed bid until now, following a report in Austrian magazine Profil.
Bwin operates under various licences from Gibraltar, Canada’s Kahnawake reserve, Belize, Germany and the UK among others offering casino and soft games alongside sportsbetting and poker.
The firm recently reported earnings after tax of $6.06 million for the first six months of 2008 off gross gaming revenues of $292.19 million. For the same period last year, Bwin reported the same earnings after tax off $232.81 million in gaming revenues. The most recent results also showed net gaming revenues of $235.71 million for the first-half period, which was up on last year’s $208.23 million.
Source: OnlineCasinoNews
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