On Monday, GVC Holdings announced that it has received German sports betting licences for its brands bwin, Sportingbet, Ladbrokes, and Gamebookers.
Germany is in the middle of reorganising its gambling market and approved a new Tolerance Policy for online gaming that allows German-facing operators to continue offering online casino products as long as they observe rules laid out according to the permanent gambling law that is set to take effect from 2021.
The new licences will allow each of the four operations to continue to offer sports betting services to German customers until the new permanent regulatory framework comes into place next summer.
Under the recently approved Tolerance Policy, Germany-facing online gambling companies must set a €1,000 monthly wagering limit. They can increase that limit to €10,000 or even €30,000 per month, if certain criteria is met.
GVC CEO Shay Segev said that “the award of these licences is great news” for his company as this brings “the clarity and certainty that we have long sought for sports betting in Germany.” and added that the company can now “look confidently to the future, building on our position as a market leader by delivering an unparalleled, innovative experience for our German customers.”
The group projects that the implementation of the new terms will reduce its EBITDA by £40 million.
Last week, GVC upgraded its full-year EBITDA forecast by £50 million citing increased online betting activity during the pandemic.
SiGMA Group is excited to announce the launch of their November event, SiGMA Europe Virtual Expo. The online event, which runs from the 24th to 25th, will focus on the European gaming and tech marketplace.
For more information about how to sponsor this event please contact Hamzaand to explore speaking opportunities get in touch with Jeremy. To register for the expo click here.