Breaking News: bwin 'Temporarily' Pulls Out of Turkey

2 March 2007

Austria-based operator bwin said today that recently-passed gaming legislation in Turkey has prompted it to temporarily withdraw its products from the country's market.

The company noted that while the new law, passed Feb. 28, prohibits "online games of chance," it does allow operators the possibility to apply for licensure at a later date, though bwin did not specify as to when. "We don't really have much information on this," spokeswoman Karin Klein told Reuters. "Our lawyers are investigating this."

The company also expressed confidence in its Turkish gaming prospects, saying it would continue "endeavoring to acquire a license."

Bwin is the second company to publicly address the legislation this week. Sweden-based operator Betsson on Wednesday said that the legislation was due to be effected "within a short time" and expressed ire over what it termed "protectionist" measures taken in relation to Iddaa, the government-licensed bookmaker.

Shares in bwin closed down 0.75 euros (3.03 percent) at 24 euros on the Vienna Stock Exchange.