(Alliance News) - Entain PLC said on Monday it was awarded gaming and poker licences for all it applied for by the State Administrative Office of Saxony-Anhalt for use throughout Germany.
The Isle of Man-based sports betting and gambling company said the news enabled it to offer gaming under its bwin, Ladbrokes and Sportingbet brands, alongside poker under bwin and Ladbrokes.
Each licence is granted for a five-year term, while Entain is the first operator to be licensed to offer online poker.
"It is an important and welcome step towards achieving the goal of a fully regulated online betting and gaming market in Germany. Only through such regulation and its enforcement will we avoid the reality of customers going to the black market where there are none of the safeguards that reputable operators such as Entain guarantee," said Chief Governance Officer Robert Hoskin.
Shares in Entain were down 2.5% to 1,306.50 pence in London on Monday morning.
By Greg Rosenvinge; gregrosenvinge@alliancenews.com
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Entain (ENT)