GVC Holdings announced this morning that four separate sports betting licences were issued for Germany, adhering to the business conditions laid down in the ‘Transitional framework’ issued by the Länder.
The FTSE100 betting group, updating investors, confirms that transitional licences have been authorised for its brands SportingBet, Ladbrokes, bwin, and Gamebookers.
The sixteen federal Länder (states) of Germany, announced at the beginning of October, agreed to initiate a ‘tolerance period’ enabling licenced operators to pilot their igaming services under a ‘transitional framework’ compliant with the laws developed by the Recent Federal Interstate Treaty on Online Gambling in Germany.
The decision was used to ensure that the Councils of the Länder must pre-adopt player safety and consumer protections before Germany deployed its new federal online gambling scheme from 1 July 2021 onwards.
GVC immediately endorsed the transitional structure of Lander following its launch, claiming that it would offer more clarification and assurance to operators seeking to enter Germany ‘s new marketplace in 2021.
On Thursday 15 October, Germany’s ‘transitional framework’ will be officially introduced, with all licenced operators adhering to strict terms on player deposit limits, limitations on casino table games, slot criteria and safer gambling standards.
GVC confirmed in its statement that its licences were issued with immediate effect, but the operator is not yet able to obtain specified conditions for its individual brands to operate within Germany-‘GVC is working on an implementation plan with the regulator with terms expected to be in place in the early part of 2021.’
Group CEO Shay Segev, signing off the GVC statement, stressed maintaining the top position of GVC within Germany as a critical strategic priority as the FTSE company aims to become the lead operator of igaming and sports betting across all regulated markets.
“The award of these licences is great news for GVC, bringing the clarity and certainty that we have long sought for sports-betting in Germany,” Segev stated.
“Combined with the recent Tolerance Policy we 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 much-anticipated regulation of online gaming in Germany re-enforces GVC’s position as the most globally regulated and responsible operator in our industry.”