To operate online sports betting
bwin.party awarded a license at Schleswig-Holstein
(Germany).- bwin.party has been awarded a licence to operate online sports betting by the Ministry of Interior in Schleswig-Holstein. The licence is effective immediately and is valid for six years.
2012-05-28
Reading time 30 seg
(Germany).- bwin.party has been awarded a licence to operate online sports betting by 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 approximately 96.1 million euros from Germany.
Norbert Teufelberger, bwin.party’s Co-CEO, said: “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.”
bwin.party has submitted separate applications to offer online poker and casino games and anticipates receiving the requisite licenses from Schleswig-Holstein in due course.
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