Bwin to seek ‘hundreds of millions of Euros’ in compensation from Germany
Wednesday 27th June 2007
According to reports, Austrian online gaming firm Bwin, a company with online sportsbetting, casino and poker interests, is contemplating seeking 'hundreds of millions of euros' in compensation from several German federal states after holding the states’ gaming bans responsible for irreparable damage to Bwin’s business and reputation.
Chief Executive Norbert Teufelberger stated that he had complete faith that the European Court of Justice would deem the German states' attempts to guard their gaming monopoly illegal.
Speaking to Germany's Stuttgarter Zeitung newspaper, Teufelberger said that Bwin backed a resolution to the drawn-out wrangle that would allow states to maintain full monopoly in the lottery sector, while regulated online gaming companies are given the opportunity to provide sports betting, casino games and poker services with a 15 percent tax on gross winnings offered in exchange for their new privilege.
According to reports, Austrian online gaming firm Bwin, a company with online sportsbetting, casino and poker interests, is contemplating seeking 'hundreds of millions of euros' in compensation from several German federal states after holding the states’ gaming bans responsible for irreparable damage to Bwin’s business and reputation.