Bwin

Bwin CEO says EU ruling may make company obsolete

VIENNA, Dec 13 (Reuters) - Austrian online betting operator bwin.com's (BWIN.VI: Quote, Profile , Research) business model would become obsolete if the European Court of Justice ruled unfavourably in a landmark case due soon, bwin's head was quoted as saying on Wednesday.

The European Court of Justice is due in the next months to rule whether EU member states can outlaw betting agencies licensed in another member state. The Court's Advocate General recommended in May to stop them from doing that.

"In principle, the Advocate General's recommendation reassures us," bwin Chief Executive Norbert Teufelberger was quoted as saying in an interview in Austrian newspaper Der Standard.

"If the European Court of Justice didn't follow suit, the effect would be that national lawmakers can do as they want, and then you've got to say that a business model such as bwin's wouldn't make sense anymore," Teufelberger said.

Like betting and gambling rivals including PartyGaming (PRTY.L: Quote, Profile , Research), 888 Plc (888.L: Quote, Profile , Research) or Sportingbet (SBT.L: Quote, Profile , Research), bwin was under fire this year from a global clampdown on commercial betting operators by governments worldwide.

Teufelberger was jailed for several days by France this summer, while several of his peers in the industry were arrested in the United States. Bwin and others also had to abandon their U.S. business after a law was introduced that effectively outlawed Internet gambling.

source: routers.com