Update: Bwin.party Digital Quickly Reacts to German Liberalization Moves


Changes are not in compliance with EU law, claims the new conglomerate

This Wednesday Bwin.party digital, the newly merged Bwin-Party Gaming conglomerate reacted fast on news that Germany is about to liberalize its online gambling market with stern restrictions and high taxes. Now the world’s largest listed online gambling group, whose business is valued at GDP 1.7 billion, stated that this decision will make a strong impact on its earnings and isn’t in agreement with European law. Their chief executive Norbert Teufelberger said, "A proposed tax rate of 16 percent on the stakes placed in sports betting would make it impossible to offer a competitive product. Furthermore, excluding poker and casino products from this licensing model will continue to drive consumers into the black market."

But on the other side, more liberal state of Schleswig-Holstein has retained the licensing model and it had submitted it for approval to the EU. The model regulates all online gaming products and proscribes a tax of 20% of gross gaming profit on poker, casino and sports betting. The Bwin.party digital has applied for license in Schleswig-Holstein and it announced that will pay the required tax if Schleswig-Holstein continues in the same direction. It was also noted that the company is looking forward to consideration of all the notifications of the new State Treaty on gaming to the European Commission and authorization by state parliaments. Teufelberger stated, "We trust that these proposals will undergo the necessary corrections so that the new regulations will govern the entire German market in a coherent and consistent manner in line with EU law."

General Gambling News Casino Games Casino Software

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

4mins ago someone from United Kingdom read article Unibet crea un milionario nel periodo delle feste

Casino Community

Share this page on:
Follow LCB on:
Follow LCB

Casino Of The Month

Casino of the Month

In the last 24h

Totals

  • New Members
    23
  • Members Online
    310
  • Guests
    1,997
Highest Community Rated Online Casinos
NextCasino
  (101 Ratings)
Bet365 Games
  (117 Ratings)
CasinoLuck
  (164 Ratings)
Betsson Casino
  (150 Ratings)
BitCasino.io
  (103 Ratings)
Guts Casino
  (119 Ratings)
Redbet Casino
  (96 Ratings)
Unibet Casino
  (94 Ratings)
Intertops Casino Classic
  (73 Ratings)
Betsafe Casino
  (126 Ratings)
3Dice Casino
  (166 Ratings)
Spin Palace Casino
  (88 Ratings)
Slotty Vegas
  (59 Ratings)
BetsKING
  (16 Ratings)
Thrills Casino
  (89 Ratings)
Liberty Slots Casino
  (118 Ratings)
32 Red Casino
  (198 Ratings)
Mr Green Casino
  (229 Ratings)
Uptown Aces
  (76 Ratings)
ComeOn Casino
  (178 Ratings)
Winner Casino
  (290 Ratings)
Casino Saga
  (70 Ratings)
Vera John Casino
  (135 Ratings)
Jetbull Casino
  (67 Ratings)
Casumo
  (85 Ratings)
BETAT Casino
  (135 Ratings)
Sin City Casino
  (67 Ratings)
River Nile Casino
  (77 Ratings)
Whitebet Casino
  (63 Ratings)
Slotland
  (235 Ratings)


Follow LCB on Facebook Follow LCB on Twitter Follow LCB on Pinterest Follow LCB on Google plus