bwin.party in breach of gambling laws, says Belgian authorities
Norbert Teufelberger, the co-Chief Executive Officer (CEO) of online gaming firm bwin.party digital entertainment, faced two hours of questioning from Belgian authorities on Tuesday on concerns that the company has breached Belgium's gambling laws.
Norbert Teufelberger, the co-Chief Executive Officer (CEO) of online gaming firm bwin.party digital entertainment, faced two hours of questioning from Belgian authorities on Tuesday on concerns that the company has breached Belgium's gambling laws.
Yesterday, press reports emerged that Teufelberger had been detained by police for questioning after the 'Responsible Gaming Day' conference in Brussels, an industry conference about responsible gaming and regulation which he chaired.
bwin.party released a subsequent statement saying that he was complying voluntarily with the request for an interview.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

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
In Wednesday's press release, the company revealed the Belgium Gambling Commission's (BGC's) view that bwin.party was "in breach of the country's gambling legislation".
The company responded, saying: "bwin.party maintains the position that it is acting and has always acted in compliance with applicable laws."
Teufelberger left the country as originally planned and the group continues to talk with the BGC about the issue.
Teufelberger and co-CEO Jim Ryan said: "We have been at the forefront of regulatory change in Europe for several years and we have licences in Gibraltar, Alderney, Denmark, France, Germany (Schleswig-Holstein), Italy and Spain. We continue to strive for a regulatory framework in European Member States that is compliant with EU law."
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Reeves warned against property tax shake-up – 3 ways it could backfire on first-time buyers
Rachel Reeves reportedly has her eye on high-end property taxes in the upcoming Budget, but there are concerns a shake-up could unintentionally hamper those trying to get on the housing ladder
-
Average Brits want to retire five years before they can – who has the widest retirement gap?
Brits are expecting to work for longer than ever but there are big disparities in the number of extra working years predicted. A small tweak could help close the gap