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Mybet Awarded German SportsBetting License
Wednesday September 3,2014 : MYBET AWARDED GERMAN SPORTSBETTING LICENCE
But does it hinge on rejected applicants appealing the Ministry's decision?
The Hesse Ministry of Interior and Sport has informed mybet Holding SE parent company Personal Exchange International Ltd (PEI) of its intention to award the company one of twenty sportsbetting concessions.
According to mybet, the Ministry will issue the licence on September 18, 2014, at the earliest, to allow for rejected licence applicants to seek legal recourse.
Sven Ivo Brinck, chief executive officer commenting on the award said: "We are delighted at the news that our application ranks among the twenty best and that the ministry intends to grant a licence to our group company.
"It will necessitate adjustments within the company that present both opportunities and risks for our business operations.
"We also need to bear in mind that those parties whose applications for a licence have been turned down may appeal against the decision of the Hesse Ministry of the Interior by way of interim proceedings. That makes it uncertain whether the licences will be issued straight away in two weeks' time or only once any such proceedings have been concluded.
"It is also unclear whether and subject to what conditions the competitors whose applications have been rejected may continue to operate their sports betting range in Germany while court proceedings are still in progress. We will prepare thoroughly for every scenario."
It is believed the remaining nineteen concessions include European egaming giants such as Betfair, Ladrokes and bwin.party as well as local operators.
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2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
Team Hot Launches -
#teamhot The Philippines licensed and GGNetwork-powered online poker operator Natural8 has announced the appointment to its "Team Hot" professional player line-up of Asian poker aces Kitty Kuo, Xuan Liu and Dong Kim.
Netent Q3-2016 Earnings Report -
#netent The UK continues to be an important growth driver but the weaker pound had an estimated negative effect of about three percentage points on revenue growth compared to the same quarter last year.
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