Bwin.party has announce it has been awarded a licence to operate online sports betting by the Ministry of Interior in Schleswig-Holstein.
The license is effective immediately and is valid for six years. Revenues generated under the license 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 96.1m from Germany. Co-chief executive Rorbert 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.” 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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