23 May 2012 12:54
23 May 2012
bwin.party digital entertainment plc
('bwin.party', the 'Group')
Schleswig-Holstein Operating Licence
bwin.party, the world's leading listed online gaming company, has today been awarded a licence to operate online sports betting by the Ministry of Interior in Schleswig-Holstein. The licence is effective immediately and is valid for six years.
Revenues generated under the licence 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.
Norbert Teufelberger, bwin.party's Co-CEO, 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.
Contacts:
bwin.party digital entertainment plc
Investors
Peter Reynolds +44 (0) 20 7337 0177
Media
John Shepherd +44 (0) 20 7337 0100
About bwin.party
bwin.party digital entertainment plc (LSE: BPTY) is the world's largest listed online gaming company. The Company was formed from the merger of bwin Interactive Entertainment AG and PartyGaming Plc on 31 March 2011. Incorporated, licensed and regulated in Gibraltar, the Group also has licences in France, Italy and Denmark. With offices in Europe, India, Israel and the US, the Group generated total pro forma revenue of €816.0m and pro forma Clean EBITDA of €199.3m in 2011. bwin.party commands leading market positions in each of its four key product verticals: online sports betting, poker, casino and bingo with some of the world's biggest online gaming brands including www.bwin.com, www.PartyPoker.com, www.PartyCasino.com and www.FoxyBingo.com. The Group's scale, technology and strong portfolio of games collectively differentiates its customer offer from those of its competitors. bwin.party is a constituent member of the FTSE 250 Index and the FTSE4Good Index Series, which identifies companies that meet globally recognised corporate responsibility standards. For more information about bwin.party, visit www.bwinparty.com.