888 To Appeal German Federal Court Ruling Blocking Online Gambling
888 Holdings—through one of its German subsidiaries—is challenging a ruling by the German federal Court that upheld a ban on online gambling it thee German state of Baden-Württemberg.
“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” the group said in a statement as part of its latest market update.
The report alerted investors of its German market concerns. For its 2017 trading, 888 also said it booked a $45 million penalty charge related to VAT charges attached to its German market activity prior to 2015.