• Language:

All Informations and News

JAXX SE: EU Commission rejects draft State Treaty


JAXX SE / Key word(s): Miscellaneous

19.07.2011 / 12:56


JAXX SE: EU Commission rejects draft State Treaty

Kiel, July 19, 2011 - The EU Commission has rejected virtually all key aspects of the draft submitted by 15 federal states on the reorganisation of the German gaming market. In a communication sent yesterday to the Ministry of Economic Affairs, the Commission calls on the Federal Republic to state its position on a number of questions relating to the draft's compatibility with European Union law.

All key aspects of the draft are criticised by the Commission in its detailed opinion, including

- the discriminatory cap on the number of licences for sports betting
- the unrealistic taxation system
- questionable rules for online casino and poker products
- the limiting of betting stakes.

Mathias Dahms, Management Board spokesman of JAXX SE, remarked: 'As expected the EU Commission has torn up the 15 federal states' draft. It is all too obvious that the plan is simply about perpetuating Germany's monopoly on gambling. It is time to follow the lead given by Schleswig-Holstein, which envisages a sensible, market-led, EU-conform path to liberalisation.'

About JAXX:

JAXX SE, listed in the Prime Standard of Deutsche Börse, is a financial holding company with holdings in international companies in the gaming industry. JAXX currently holds interests in companies in Germany, the UK, Spain, Austria, Malta and Belgium. JAXX SE has its headquarters in Kiel. The holding companies cover the entire spectrum of the games and gambling industry. Depending on national regulatory structures, they broker or market sports and horse betting, lotteries, and casino and poker games. The shares of JAXX SE have been traded at Deutsche Börse since 1999 under ISIN DE000A0JRU67.

Contact:

JAXX SE
Investor Relations & Corporate Communications
Stefan Zenker
Tel.: (+49) 40 8537 8847
email: stefan.zenker@jaxx.com



End of Corporate News


19.07.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de



132474  19.07.2011