Germany delay gambling decision

Germany has delayed her decision on whether to ban remote online casino and gambling companies in attempt to protect the monopoly the sate-run lotteries enjoy.

The decision has been delayed until early next year, with Gaming VC the subject of much takeover talk as share prices have taken a dive of 16 and half pence to 92 and a half pence. The company have acknowledged the speculation and have admitted that discussions have taken place 'from time to time' about the best strategy for the company. However, they added that those talks had never got passed the preliminary stages.

If the gambling ban was to be introduced in Germany, it would hit Gaming VC hard as they focus most of their business in German-speaking countries.

"In its current form the new state treaty would retain the monopoly in the German lottery market and to a large extent ban remote gambling,” said Gaming VC in a statement.

The treaty put forward by 15 of the 16 premiers of the German Bundeslanders, will come under close scrutiny from the European Commission, who want to free the European gambling market from any competitive restrictions, such as state-protected monopolies.

The new law would be likely to come into effect in January 2008 and last for four years and according to Christian Wulff, Prime Minister of Lower Saxony, state ministers will inform the European Commission of the decision once the proposal has been signed.

Editor, Jackpot.co.uk - 2006-12-14 12:51:24




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