Austrian giant exits Germany’s online gambling market
A spokesman said Tuesday that Novomatic left Germany’s online gambling market at the end of December due to the country’s regulatory uncertainty.
Germany.- In September 2017, Novomatic dropped plans for a € 5 B. initial public offering on the Frankfurt bourse due to unclear regulation regarding gambling halls in one of its core markets, Germany.
Around 40 per cent of Novomatic’s revenue come from the sale of gambling equipment, the rest stemming from operating gambling halls. Online activities only account for a small percentage of sales.
Novomatic confirmed reports that it is no longer providing its services to real-money online casinos in Germany.
“Unfortunately there are many providers which continue to place copied gaming content unlawfully on the German market without having relevant agreements with us,” a spokesman said in a statement.
