Tipp24 SE:ECJ declares State Treaty on Games of Chance illegal

Sep 08, 2010 7:16 PM

Tipp24 SE / Key word(s): Legal Matter/Letter of Intent

08.09.2010 17:16
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Tipp24 SE: ECJ declares State Treaty on Games of Chance illegalECJ declares
State Treaty on Games of Chance illegal

- German gambling monopoly toppled
- Tipp24 SE aims to resume business in Germany 

(Hamburg, 8 September 2010) According to a verdict announced today by the
European Court of Justice (ECJ), Germany's State Treaty on Games of Chance
(Glücksspiel-Staatsvertrag - GlüStV) contravenes the basic European rights
of freedom.

The judges ruled that the German regulations were not coherent and
consistent with the targets set by the federal states themselves, in
particular the combating of gambling addiction, and thus contravened
European law.

The ECJ also stated that the German state lottery companies were running
extensive advertising campaigns with the aim of maximising their own
profit. Moreover, much more dangerous automated games were allowed without
any particular restrictions and the respective statutory regulations had
even been liberalised.

It was also noted by the ECJ that the restrictions of the GlüStV which
contravened European law could no longer be applied even on a temporary
basis until a new regulation in line with EU law had been found.

Dr. Hans Cornehl, CEO of Tipp24 SE, states: 'The ECJ ruling has fully
confirmed our legal viewpoint. The State Treaty on Games of Chance is
illegal and not applicable - a victory in all aspects. We expect that we
will soon be able to resume our business of brokering state lotteries in
Germany - a business we successfully conducted until late 2008.'


Press contact:
Tipp24 SE       
Andrea Fratini       
Head of Media and Public Relations   
Tel.: +49 40 32 55 33-660     
E-mail: presse@tipp24.de    
Internet: www.tipp24-se.de/presse/  




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Language:     English
Company:      Tipp24 SE
              Straßenbahnring 11
              20251 Hamburg
              Deutschland
Phone:        +49 (0)40 325533-0
Fax:          +49 (0)40 325533-77
E-mail:       office@tipp24.de
Internet:     www.tipp24-se.de
ISIN:         DE0007847147
WKN:          784714
Indices:      SDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Hamburg, München, Berlin, Düsseldorf, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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