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Bwin Stocks Rise On Good Germany News

Written by:
Aaron Goldstein
Published on:
Nov/19/2010
Bwin

 

Bwin Interactive Entertainment AG (BWIN AV) added 1.2 percent to 32.35 euros, for a third advance. The gaming company said it won a legal case against Westdeutsche Lotterie GmbH & Co. OHG in Germany, Bloomberg reported on Friday.

The German court found in favor of the Austrian-based online betting firm, which is preparing to merge with PartyGaming.

The company has been embroiled in a 6-year legal battle after the monopoly West German Lottery Company (“Westlotto”) applied in 2004 for an injunction that would have prevented Bwin from advertising its products in the country.

Bwin CEO Norbert Teufelberger told eGaming Review Magazine: “It is high time, and in the interests of all those involved, to prepare the way for the modern regulation of online gaming in Germany. We are optimistic that Germany will follow the example of other European states like Italy and France. Like the United Kingdom, both these states have regulated the opening-up of their markets in such a way as to take into account both market circumstances and the need for gamer protection and combating fraud.”

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Aaron Goldstein, Gambling911.com

Business/Financial News

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