888 Holdings stands its ground in Germany
The Gibraltar-based company has filed a constitutional complain to fight a ban on online gaming services which has been upheld.
Germany.- A ban on online gaming services in Baden-Württemberg has fired up 888 Holdings and the company (despite threatening to leave the market) has decided to fight in the current regulatory landscape. Through a press release, 888 reported it has “filed a constitutional complaint with the German Federal Constitutional Court” to try and reverse the mentioned ban.
According to the complaint (that was filed after the company’s legal counsel advised in its favour), “the ruling of the German Federal Administrative Court infringes its constitutional rights, as well as its rights under EU law (including the freedom to provide services), and hence should be reversed”.
Brian Mattingley, 888 Holdings Chairman, said: “In recent months, other providers have withdrawn from the German online gaming market, and recently payment institutions facilitating approximately 9% of deposits for the Group in Germany have decided to cease providing certain services with respect to the German online gaming market”.
888 Holdings could actually follow other companies and leave the German market if the ban is upheld as it is already struggling with taxation. “Tighter regulations threaten its operations and a tax liability nearly halved its 2017 core earnings,” 888 said about the recent gaming taxes regulation change.
