888 files legal complaint in Germany

[The Buzz]

In a corporate statement issued today, 888 Holdings announced it is challenging Germany’s Federal Administrative Court ruling upholding online gambling service restrictions. The company has asserted that the ruling infringes its constitutional rights, as well as its rights under EU law and should be reversed.

You may remember last month, 888 announced that is was considering pulling out of the German market after suffering a big hit to its year-end profits due to a tax issue.

From the statement:

After consulting with legal counsel, the Group's subsidiary has filed a constitutional complaint with the German Federal Constitutional Court in which it has asserted its position that the ruling of the German Federal Administrative Court infringes its constitutional rights, as well as its rights under EU law (including the freedom to provide services), and hence should be reversed.

For its 2017 trading, 888 governance booked a $45 million penalty charge related to VAT charges attached to its German market activity prior to 2015.

Read more here: https://www.sbcnews.co.uk/latestnews...s-restriction/

Read the 888 statement here: http://otp.investis.com/clients/uk/8...97380&cid=1095

[matthewt]

$45 million! That is way too much! Looks like Germany is trying to take 888 down!

Make love not war!

[Sherlock]

888 should rot in hell.

[ocreditor]

Wow that's a lot of money, regulation cost money

[AussieDave]

$45 million! That is way too much!

To those crooks it would be chump change. Happy to see them on the receiving end, they've burnt so many affiliates.

[matthewt]

If they refuse to pay and get some lawyers, they could theoretically beat it. What would you say their odds of getting a reduction in fines would be? About 90%?

[StakeHunters]

We are working with 888 about 2 years. We dont have big results. But stready new registrations/new deposit each mont. And expecialy if you will take conversations is one of the best brand. Also their affiliate managers is really friendly and they trying to do the best, supporting all pronos, giving extra budgets, increasing deals.
Ofcourae it is only fron my perspective. But at this moment i am very happy about cooperation woth them. And sad about minis 45milions :/

[Triple7]

If they refuse to pay and get some lawyers, they could theoretically beat it. What would you say their odds of getting a reduction in fines would be? About 90%?

There's always a risk that it could jeopardize future operations in Germany. That's what scares brands the most. They would even do Australia and take a million fine I guess. It's worth if you have enough turnover. But if it means that you will have no chance to get a license in the future...