Reuters news agency has informed that Bwin Interactive Entertainment, the online gambling group from Austria, has lost about $3.22 million which followed after the company’s application for a sportsbetting license in Turkey had been rejected. The online gambling company had been concealed the loss for more than a year, and only recently the Austrian magazine, Profil, has made it public.

Last year, in March the online gambling group stated in response to the mass media that Bwin Interactive Entertainment had made a decision to withdraw from the Turkish gambling market following new laws on online gambling which banned games of chance, but, on the other hand, it provides also the possibility to license the business in future. The company’s management said that they considered being able to get the license at a later date.

By the time of withdrawal from the Turkish market, Bwin generated 6% of its gross online gambling revenues in Turkey. For the company not taking part in this gambling market could mean losing about 20-25 million Euros annually, according to analysts’ forecast.

Bwin has just recovered from a range of analogous events as well. In March, 2006, it purchased Ongame, the internet gambling company, which lost it nearly half a milliard of Euros. That year in October, Bwin lost the same amount when the Unlawful Internet Gambling Enforcement Act passed in the USA.

Bwin operates in a lot of countries, such as Belize, Croatia, Germany, Kahnawake, Mexico, Sweden, Italy and the UK.