Novomatic leaves German online gambling market
Novomatic spokesman announced Tuesday that they were going leave the online gambling market in Germany, as they claimed that there should exist more regulatory clarity regarding gambling halls there.
In September, the company decided not to proceed with their plans for a USD 6 B initial public offering on the Frankfurt bourse.
Novomatic generates around 40 percent of its sales from gambling equipment, the rest stemming from operating gambling halls. Online activities only account for a small percentage of sales as internet gambling is illegal in many countries.
A spokesman for Novomatic confirmed a report by Austrian news agency APA about it ceasing to rent out its technology to German online casinos that use it for real-money gambling.
“Unfortunately there are many providers which continue to place copied gaming content unlawfully on the German market without having relevant agreements with us,” a spokesman said in an emailed statement.
He said there was a need for German regulators to revamp online gambling rules as the current situation was “unclear”.
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