Austria-based gaming equipment supplier Novomatic AG has exited Germany’s online gaming market as of the end of December, reported Reuters, citing a spokesperson for the company.
The firm has alleged that some providers of gaming content for Germany-based consumers have been illegally using Novomatic digital products without having first secured agreement from the company. The Novomatic representative was also cited in the report as calling for greater regulatory clarity from the German authorities regarding online gaming.
Novomatic has shelved its plans for a EUR5-billion (US$6-billion) initial public offering on the Frankfurt bourse due to uncertainty about new regulations regarding land-based gaming halls in Germany, Reuters also reported.
The firm had previously spoken of a “significantly tougher… framework” for the gaming business in Germany. Novomatic has also referred to that country as its “most important” market.
Novomatic’s company-wide revenues from online and mobile gaming amounted to EUR28.7 million for the first six months of 2017; only 2.4 percent of the firm’s reported total revenue of approximately EUR1.22 billion, according to its interim financial statement. Novomatic’s interim group revenue rose 11.3 percent year-on-year, which it said was mainly due to a significant increase in the tally of electronic slot machines operated by the firm worldwide.
The Novomatic group operates more than 260,000 gaming terminals and video lottery terminals (VLT) in its over 2,100 “gaming operations as well as via rental concepts”, according to the firm’s latest release. The company is active in several gaming segments around the world, including casino, lottery, sports betting, online and mobile.
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”We expect Goa to quickly become a US$1 billion market as it transitions to land-based casinos (from US$150 million today), which is still just a fraction of India’s total GGR potential of US$10 billion to US$17 billion”
Analyst at Union Gaming Securities Asia