January 9, 2018 / 4:42 PM / 8 months ago

Austria's Novomatic exits German online gambling market

VIENNA, Jan 9 (Reuters) - Austrian gambling technology group Novomatic exited the online gambling market in Germany at the end of December, a spokesman said on Tuesday, calling for more regulatory clarity there.

In September Novomatic shelved plans for a 5 billion euro initial public offering on the Frankfurt bourse due to due to uncertainty over new regulations regarding gambling halls in one of its most important markets, Germany.

Novomatic generates around 40 percent of its sales from gambling equipment, the rest stemming from operating gambling halls. Online activities only account for a small percentage of sales as internet gambling is illegal in many countries.

A spokesman for Novomatic confirmed a report by Austrian news agency APA about it ceasing to rent out its technology to German online casinos that use it for real-money gambling.

“Unfortunately there are many providers which continue to place copied gaming content unlawfully on the German market without having relevant agreements with us,” a spokesman said in an emailed statement.

He said there was a need for German regulators to revamp online gambling rules as the current situation was “unclear”.

Reporting By Shadia Nasralla, editing by David Evans

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