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JAXX SE: EU Commission opinion signals end of road for 15 federal states' proposed bill on gaming

JAXX SE / Key word(s): Miscellaneous

20.03.2012 / 15:44

JAXX SE: EU Commission opinion signals end of road for 15 federal states' proposed bill on gaming

- No conclusively favourable opinion of EU Commission in notification process

- Still serious concerns over compatibility with European law of 15 federal states' draft State Treaty on gaming

- JAXX boss Mathias Dahms expects position to shift towards Schleswig-Holstein approach

Kiel, March 20, 2012 - The letter from the EU Commission to the German government published today signals the end of the road for the State Treaty on gaming being planned by 15 federal states, not including Schleswig-Holstein. According to the letter, the Commission's serious misgivings about the legislation's compatibility with European law could not be allayed, meaning that the key requirement for the State Treaty to become law is not met.

Although the Commission praises the states for their efforts to introduce improvements, it has major doubts whether those improvements are sufficient. It mentions several times the need for the states' measures to be transparent and non-discriminatory. This is with reference e.g. to the preferential treatment of state-owned gaming providers.
The EU Commission also voices its serious doubts as to whether the terms currently planned are sufficiently appealing to attract licensees. It moreover cannot identify coherent reasons for the ban on online poker and online casinos.

At the Prime Ministers' Conference in December 2011 all state premiers made their approval of the controversial State Treaty and its submission to the state parliaments for ratification conditional on the EU Commission ending the notification process with a conclusively favourable opinion. That condition has not been met.

Time is now running out for the 15 federal states. The old State Treaty on gaming expired at the start of this year. Only the old implementing statutes were extended. Only in Schleswig-Holstein, where progressive, EU-conform gaming legislation took effect on January 1, 2012, are companies such as mybet getting ready to offer sports betting, casino and poker under licence in North Germany.

Mathias Dahms, Management Board spokesman of JAXX SE, remarked: 'We submitted the licence application for myBet in Kiel and look forward to doing business again soon in Germany. We urge the other federal states to take a look at Schleswig-Holstein's legislation: it is modern, satisfies European standards and above all has received the blessing of a conclusively favourable opinion by the EU Commission.'

Investor Relations & Corporate Communications
Stefan Zenker
Tel. +49 (40) 85 37 88 47
Fax +49 (40) 85 37 88 30
Mail stefan.zenker@jaxx.com

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