PADDY POWER SHRUGS OFF GERMAN BAN

11 January 2008

EU will overturn decision says spokesman


Irish-based betting online and land betting group Paddy Power appears unfazed by the German states' ban on Internet gambling which came into effect on January 1st (see previous InfoPowa reports)

A spokesman this week played down the likely impact of the ban, predicting that losses would not be significant in the context of the firm's overall group profits, expected to reach Euro 60 million this financial year.

The spokesman added his voice to other European companies who expect the ban to be overturned by the European Commission for non-compliance with the EU principles of free movement of trade and services between member nations.

Major German companies have already indicated a willingness to challenge the ban in the courts.

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