German State Legalizes Online Poker
Schleswig-Holstein First German State To Regulate Online Poker, Hopes Are Others Will Follow
The German state of Schleswig-Holstein today passed legislation to legalize and regulate online poker.
It is the first German state to do so and the online gaming industry now hopes the other 15 states in the country will follow suit and incorporate the law into their statute books.
There will be an unlimited number of licenses issued in the state and tax will be levied at 20 percent of gross profits. The law comes into force on January 1, 2012 with licences valid from March 1.
The legislation was supported by PokerStars.
Analysts Daniel Stewart & Company said in a sector note in the aftermath of the news, “This is undoubtedly good news for online operators with exposure to the German market. However it is not absolutely clear at this stage whether or not operators with a license in S-H would be allowed to take wagers from citizens outside of the state (i.e. across Germany).
“This does however in our view put pressure on the other 15 states to fall inline with EU law with regards to the New Interstate Treaty.”
Bwin.party digital entertainment’s share price was up 12 percent at the time of writing.
|1||Hellmuth Gets Crushed In Poker Cash Games|
|2||Largest WSOP Ever Just One Week Away|
|3||Online Poker: Jason Mercier Drops Six Figures|
|4||Talal Shakerchi Wins 2016 SCOOP Main Event|
|5||Online Poker Ban Defeated Again On Capitol Hill|
|6||New Wynn Poker Room At Encore Now Open|
|7||A Poker Life: Daniel Idema|
|8||Rapper's Deal With I-Poker Group Has $400M Upside|
|9||Five Things Poker Players Can Learn From Blackjack|
|10||Kuznetsov Leads Super High Roller Bowl After Day 1|
|1||Lederer Apologizes For His Role In Full Tilt Fiasco|
|2||Hellmuth Gets Crushed In Poker Cash Games|
|3||Full Tilt's Poker Platform To Be Retired May 17|
|4||Legendary Gambler Indicted For Insider Trading|
|5||Gilbert Arenas Bets $500,000 On Cavs Title|
|6||Largest WSOP Ever Just One Week Away|
|7||JP McManus Wins $17 Million In Backgammon Session|
|8||Online Poker: Jason Mercier Drops Six Figures|
|9||Oldest California Card Room Loses License|
|10||Talal Shakerchi Wins 2016 SCOOP Main Event|