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Betfair granted online sports betting licence in Schleswig Holstein, Germany.

M2 EQUITYBITES-May 3, 2012-Betfair granted online sports betting licence in Schleswig Holstein, Germany(C)2012 M2 COMMUNICATIONS

Online sports betting provider Betfair Group plc (LSE:BET) has been granted a licence to operate its betting exchange in the German state of Schleswig Holstein.

Betfair intends to pay 20% of its gross gaming revenue derived from Germany to Schleswig Holstein.

Based on the company's current revenue run-rates this payment is anticipated to reduce the company's gross margin by approximately one percentage point.

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Publication:M2 EquityBites (EQB)
Geographic Code:4EUGE
Date:May 3, 2012
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