Mybet awarded German sportsbetting licence

The Hesse Ministry of Interior and Sport has informed mybet Holding SE parent company Personal Exchange International Ltd (PEI) of its intention to award the company one of twenty sportsbetting concessions.

According to mybet, the Ministry will issue the licence on September 18, 2014, at the earliest, to allow for rejected licence applicants to seek legal recourse.

Sven Ivo Brinck, chief executive officer commenting on the award said:  “We are delighted at the news that our application ranks among the twenty best and that the ministry intends to grant a licence to our group company.

“It will necessitate adjustments within the company that present both opportunities and risks for our business operations.

“We also need to bear in mind that those parties whose applications for a licence have been turned down may appeal against the decision of the Hesse Ministry of the Interior by way of interim proceedings. That makes it uncertain whether the licences will be issued straight away in two weeks’ time or only once any such proceedings have been concluded.

“It is also unclear whether and subject to what conditions the competitors whose applications have been rejected may continue to operate their sports betting range in Germany while court proceedings are still in progress. We will prepare thoroughly for every scenario.”

It is believed the remaining nineteen concessions include European egaming giants such as Betfair, Ladrokes and bwin.party as well as local operators.

Related and similar