GERMANY'S NORTHERN state of Schieswig-Holstein has had its draft gambling law declared compliant with EU law by the European Commission, opening the way for me state to pass a bill later this year.
The bill will now sit with the Schieswig-Holstein parliament for final vote, which if voted on before lawmakers head for their summer recess at the end of June, could see a licensing regime in place by the autumn. If no action is taken, the bill will have to wait until lawmakers return in September.
The state's law would see operators pay a 20 percent gross profits tax with no limitations on products, which is in stark contrast to Germany's proposed licensing regime, which would see a 16.6 percent turnover tax on in-play betting only with licences for casino and poker only available to land-based casinos - which, according to Numis Securities, "appears inconsistent with EC J rulings".
Numis' company update for bwin.party following the German proposals in April also suggested that "it seems unli...[more]
