The anaerobic treatability and methane generation potential of beet molasses alcoholic fermentation wastewater (BMAFW) were investigated. Continuous reactor experiments were carried out in a two-stage upflow anaerobic packed bed reactor (UAPBR) with plastic balls as support material. Experiments with alcohol distillery-wastewater were continued for 200 days with organic loads changing between 2.71-5.48 and 0.68-1.18 g COD L-1 day(-1) for UAPBR1 and UAPBR2, respectively. A 97 % total COD removal in two reactors was achieved at 4.8 g COD L-1 day(-1) organic load and 175 h retention time. Following the UAPBR experiments, aerobic experiments were carried out in the batch reactors with Penicillium decumbens, Penicillium crustosum, Aspergillus niger as well as activated sludge. P. decumbens demonstrated maximum decolorization and COD removal with levels of up to 58% and 83%, respectively.