bwin.party gets answer to Schleswig-Holstein question
Online gaming firm bwin.party has been awarded a licence to operate online sports betting by the the Ministry of Interior in Schleswig-Holstein.
Online gaming firm bwin.party has been awarded a licence to operate online sports betting by the the Ministry of Interior in Schleswig-Holstein.
The licence is effective immediately and is valid for six years.
Revenues generated under the licence will be taxed at the rate of 20% of gross gaming revenue. In 2011, the group generated total pro forma gross sports betting revenue of around €96.1m from Germany.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"Schleswig-Holstein's regulatory regime represents an important step in building a vibrant and competitive German online gaming market. This EU-compliant regime is a fundamentally important step to protect consumers and keep out black market operators in Germany," claimed Norbert Teufelberger, bwin.party's joint Chief Executive Officer.
The group has submitted separate applications to offer online poker and casino games and anticipates receiving the requisite licences from Schleswig-Holstein in due course.
Despite the licence award, the company's shares shed 4.2p at 127.2p.
JH
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
What is an offset mortgage and should you consider one?
Mortgages Offset mortgages are a good way to put your money to work. We explain what they are and if they might work for you.
By Ruth Jackson-Kirby Published
-
Tesla and Alphabet announce results – should you invest in Big Tech?
How profitable are the world’s biggest tech companies? We share the latest so far this earnings season.
By Katie Williams Published