Now Betfair exit Greece
It was announced at 7:04 this morning that Betfair are now, on top of all the other recent markets, exiting Greece. It’s another blow for the exchange model in Europe.
Full statement is available here: –
https://otp.investis.com/clients/uk/betfair/rns/regulatory-story.aspx?cid=270&newsid=293343
The key part is the following: –
On 5 November 2012, the Greek Gaming Commission issued a Decision that includes provisions for financial penalties and criminal sanctions against gaming operators that continue to operate in the market without a permit. Betfair believes that there are significant issues with the legality of this Decision. However, until greater clarity is received, we have taken the decision to withdraw from the market and will continue to support the RGA’s efforts.
Prior to our decision to withdraw from the market, Betfair had been expected to generate £13 million of revenue and £7 million of contribution from the Greek market in the current financial year.
Category: Betfair
