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Bwin Turkish License
The Reuters news agency reports that Vienna listed online gambling group Bwin Interactive Entertainment has flagged a Euro 2.25 million ($3.22 million) hit after a project to obtain a sports betting licence in Turkey failed. The loss came about when the company applied for a licence in Turkey last year, but had not received publicity until the Austrian magazine Profil reported on the matter.
In March 2007 Bwin advised the media that it had decided to temporarily withdraw from the Turkish market following new laws (see previous InfoPowa report). The Bwin statement revealed that the new law prohibited online games of chance, but it also provided for the possibility of licensing the businesses in the future. This presumably led to Bwin applying for such a licence.
At the time of its withdrawal the company generated approximately 6 percent of its gross gaming revenues in Turkey. Halting business in that nation could mean a Euro 25-20 million drop in gross gaming revenues per year, analysts speculated.
Bwin has been unfortunate in "force majeure" type events beyond its control; in March 2006, it acquired Ongame, which focuses on online poker and operates PokerRoom.com. The acquisition cost the company around Euro 500 million. Bwin later had to write off much of the value after the Unlawful Internet Gambling Enforcement Act was signed into law in October 2006 in the United States.
Bwin operates under international and regional licences in countries like Gibraltar, Kahnawake, Belize and Germany, Italy, Mexico, Croatia, Austria and the United Kingdom. The group, which is a leading member of the EGBA, offers sports betting, poker, casino games and soft games with most revenue coming from poker and sportsbetting. Competence centres are located in Vienna, Austria, Stockholm, Sweden and Gibraltar.
The parent company, Bwin Interactive Entertainment AG, has been listed on the Vienna Stock Exchange since March 2000.
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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