Schleswig-Holstein(S-H) passes online gambling bill – positive for GVC holdings (15% yield)
The German state of Schleswig-Holstein this morning voted in favour of online gambling. The proposals, already approved by the EC will take the following shape.
Law effective from 1 January 2012 and licenses will be valid from 1 March 2012. An unlimited number of licenses to be granted. Products permitted are: Poker, Sportsbetting including exchange betting and Casino with the exception of roulette, black jack and baccarat. Good news for online operators with exposure to the German market! GVC announced in April 2011 that it would be applying for a licence in Schleswig Holstein, should such an opportunity arise, particularly as GVC’s German business already operates and pays taxes under a licence granted by an EU member state with rigorous customer protection and anti-fraud measures.…