Austrian giant exits Germany’s online gambling market

As per the reports of a spokesman on Tuesday, Novomatic a giant among international producers and operators of gaming technologies left Germany’s online gambling market at the end of December on account of the country’s regulatory uncertainties.

Concerned with unclear regulation regarding gambling halls in Germany, one of its core markets, Novomatic gave up plans for a € 5 B. initial public offering on the Frankfurt bourse in September 2017.

The sale of gambling equipment, adds to approx. 40 percent of Novomatic’s revenue the rest emerging from operating gambling halls. Online activities only account for a small percentage of sales.

Novomatic confirmed reports that it is no longer extending its services to real-money online casinos in Germany.

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