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One of Germany’s biggest online gambling operators, bwin.party has been awarded a six-year sports betting licence by Schleswig-Holestein.
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The company will now pay a 20 percent gross gaming tax to the German state authorities. Last year sports betting revenue for the company in Germany was €96.1 million.
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Chief executive officer of bwin.party, Norbert Teufelberger, 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.”
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Bwin.party anticipates receiving an online poker licence, for which it has lodged a separate application, in due course.
Analyst Daniel Stewart & Co. said, “The news should be regarded as positive in our view as Schleswig Holstein has EC approval for its online gambling regime.
“However it is still unclear at this stage whether or not the S-H license allows BPTY and other operators which have secured a license to take bets from German residents in other German states.”
Earlier this month the first tranche of licences were awarded to Betfair, NordwestLotto and Jaxx.
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Bet365, bet-at-home, and Tipico have also been awarded sports betting licences.
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