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Gaming legislation passed in Schleswig-Holstein: Kiel-based JAXX SE to apply for licences shortly

JAXX SE / Key word(s): Miscellaneous

14.09.2011 / 12:11

Gaming legislation passed in Schleswig-Holstein:
Kiel-based JAXX SE to apply for licences shortly

Kiel, September 14, 2011 - The state parliament of Schleswig-Holstein today passed new gaming legislation that envisages extensive liberalisation of the gaming market in Schleswig-Holstein from 2012.

The current State Treaty on gaming expires at the end of this year. While the reorganisation proposed by the remaining 15 federal states has been declared by the EU Commission to be in conflict with European law, the commissioners in Brussels have already given the go-ahead for the Schleswig-Holstein model. This latter envisages the customary parameters that apply throughout Europe, such as an unlimited number of sports betting licences, moderate taxation of the net gaming proceeds (hold) at 20 percent and allowing lotteries, poker and other forms of gaming to operate over the internet.

JAXX SE, which has been based in Schleswig-Holstein since its establishment in 1998, will apply for licences for its subsidiaries for sports betting and other forms of gaming under the new law as soon as the parameters have been finalised. The new licences are then to take effect from the start of March 2012. JAXX SE's subsidiaries will use the permit issued in Schleswig-Holstein to operate particularly over the internet throughout the remainder of Germany, and will pay taxes and contributions in Schleswig-Holstein.

Mathias Dahms, Management Board spokesman of JAXX SE, remarked: 'We welcome today's decision by the state parliament in Kiel. The new gaming legislation sets the bar high for promoters and sales partners, with standards that lead the way in Europe. Only serious, economically sound companies such as JAXX SE will be in a position to meet the requirements for the licences. The new law provides legal certainty and strikes a fair balance between protecting players, the interests of consumers and entrepreneurial liberty. The other 15 federal states would be well advised to copy the Schleswig-Holstein model. For the time being, only Schleswig-Holstein will be able to draw on this fresh source of revenue for the state's finances. We have always believed in this location and won't be forced away. We will be investing in Schleswig-Holstein again in future and creating new jobs here. Today we are especially proud of our heritage as a Schleswig-Holstein company.'

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.

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

End of Corporate News

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