Deutsche Telekom proposes Deutsche Sportwetten acquisition
Company seeks to enter German sports betting through proposed acquisition of Deutsche Sportwetten
Global telecommunications company Deutsche Telekom is seeking to enter the German sports betting market through the potential acquisition of Deutsche Sportwetten GmbH.
The German Federal Cartel Office lists the proposed acquisition of a majority share in the company, which was founded last August, as having been registered on 4 September 2013.
Deutsche Sportwetten is one of more than 100 companies to have applied for one of 20 licences to offer sports betting services in the country under the First Amendment to the Interstate Treaty on Gaming, which paved the way for a restricted market opening after it came into force last July.
The process has since been dogged by delays, with a number of established operators such as William Hill and Betfair scaling back operations owing to regulatory issues. More than one year on, not one dot.de licence has been awarded.
eGaming Review reported in May that legal proceedings initiated by BetVictor regarding the Interior Ministry’s handling of the licensing proceedings could delay the award of licences until 2014.
Industry lobby group the European Gaming & Betting Association (EGBA) stated its belief that regulated online gambling in the country was “set to fail” unless the regulatory approach was completely revised or the tender procedure restarted.