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JAXX AG: ECJ ruling on the regulation of gaming in Germany

JAXX AG  / Key word(s): Legal Matter

10.09.2010 13:39
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        ECJ ruling on the regulation of gaming in Germany: 

        the monopoly has backed a loser!

Kiel, September 10, 2010 - After years of controversy surrounding the
Federal Republic of Germany's gaming policy, the European Court of Justice
(ECJ) finally drew a line under the affair last Wednesday. The EU judges
ruled that the German gaming monopoly, last cemented in 2008, violates
European law and can therefore 'no longer be justified' in its current
form.

In explaining the reasons for its verdict, the court to some extent
mirrored verbatim the arguments presented throughout the entire process by
JAXX AG, the private gaming agent, along with many sports betting
providers, and suspended core provisions of the controversial State Treaty
on gaming with immediate effect.

One of the main targets for legal criticism was the excessive advertising
campaigns run by the German monopolists. The court considered it proven
that these have the objective of maximising profit and that the aims laid
down in the State Treaty on gaming, above all the controlling and
channelling of the desire for gaming and the combating of gambling
addiction, are not being pursued seriously.

The inconsistent treatment of gaming in Germany, with horse betting, casino
games and more addictive slot machine games not subject to the monopoly,
also meant that it was impossible to speak of a 'systematic and coherent'
approach to controlling the dangers of addiction.

'The State Treaty on gaming has finally been exposed as hypocrisy. The
ruling is a huge victory for us and for all private traders in the gaming
market,' declared Mathias Dahms, Management Board spokesman of JAXX AG.
'The ECJ has overturned the entire monopoly, including on lotteries.
Politicians now need to come up with a timely solution that complies with
European law,' continued Dahms. 'Schleswig-Holstein has already given a
lead! The proposal submitted by the CDU and FDP now points the way forward.
It is currently the only legally compliant concept to meet the general
conditions for a coherent gaming policy laid down by the ECJ.'

A transparent, liberalised, regulated market such as JAXX has already
enjoyed in other countries for many years, providing a regulated gaming
environment for both private and state operators, is now the only sensible
way forward for Germany too.

About JAXX

JAXX is one of the leading specialists in the European gaming market. From
betting and casino to poker and lottery, the companies that make up the
JAXX Group offer the most popular forms of state-licensed gaming.
Integrity, customer centricity and reliably handled transactions are the
top priority in every case.


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The issuer is solely responsible for the content of this announcement.

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Language:     English
Company:      JAXX AG
              Ostpreußenplatz 10
              24161 Altenholz
              Deutschland
Phone:        +49 (0)431 88 104-0
Fax:          +49 (0)431 88 104-40
E-mail:       ir@jaxx.com
Internet:     www.jaxx.com
ISIN:         DE000A0JRU67
WKN:          A0JRU6
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Hamburg, München, Berlin, Düsseldorf, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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