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||WSOP Announces 2016 ESPN Television Schedule|
|2||Gus Hansen Returns To Online Poker Tables|
|3||Holz Wins 2016 EPT Barcelona €50k High Roller|
|4||Poker Player Accuses Preet Bharara Of Racism|
|5||PokerStars Rebrands Live Events Starting In 2017|
|6||Poker Strategy With Ed Miller: When Limping Is Good|
|7||Ignition Casino Offering Online Poker To US Players|
|8||Two More Charged In Arizona Low-Stakes Poker Game Bust|
|9||Poker Hand of the Week: What's Your Play?|
|10||Somerville Finally Drops Opposition To Wynn Casino|
|1||Police Raid Phoenix $2-$5 No-Limit Hold'em Game|
|2||WSOP Announces 2016 ESPN Television Schedule|
|3||Marcel Luske Accuses PokerStars Of Fraud|
|4||Trump Picks Poker-Playing Billionaire As Adviser|
|5||Gus Hansen Returns To Online Poker Tables|
|6||Brunson Says He Was Intended Victim Of Robbery|
|7||Mercier Appears On 'The Dan Le Batard Show'|
|8||Portland Asks Poker Rooms To Have Players Deal|
|9||Holz Wins 2016 EPT Barcelona €50k High Roller|
|10||Jason Koon Wins 2016 SHRPO Championship Event|