GVC Holdings to Garner State Support on German Transition Plan

Reading Time: < 1 minute

Global sports-betting and gaming group GVC Holdings has submitted a plan to the German state lawmakers in which the terms of the country’s new regulatory framework for gambling would be phased in, rather than implemented in full on a set date.

GVC says its model could see the Glücksspielneuregulierungstaatsvertrag (GlüNeuRStV) implemented in five stages, meaning prospective applicants would have to be fully compliant with the legislation by early 2021.

Currently, the legislation is due to come into effect on 1 July 2021 and remains subject to the regulations being ratified by individual states and the European Commission.

Under GVC’s plan, a comprehensive internal evaluation of each business would be carried out, to ensure it is capable of implementing all requirements set out in the legislation. Operators would then ensure their systems comply with terms of the GlüNeuRStV in five stages.

“The aim of the new State Treaty is to direct as many stakes as possible to regulated and state-controlled providers, because there, player protection and the fight against addiction can be guaranteed in the best possible way,” Martin Lycka, director of regulatory affairs at GVC, said.

“To achieve this, gaming regulation should be transferred to the new regulatory model within the framework of what is technically possible during the transitional period until the entry into force of the new Treaty.”

This process, he explained, would ensure player protection standards, and efforts to fight gambling addiction, could be enhanced in the short-term.

“Without such an interim solution, we would lose many customers to the predominantly non-European black market without appropriate protection standards by next summer. This would counteract the goal of the new regulation and risk it failing to achieve its aims,” Lycka warned.

Source: igamingbusiness.com

Copyright © 2015 - 2020 European Gaming Media and Events (part of Hipther Agency). Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania
%d bloggers like this: