Gauselmann’s Cashpoint awarded German sports betting license12th October 2020 10:09 am GMT
Gauselmann Group subsidiary Cashpoint has been awarded a sports betting license in Germany, six years after the company received initial approval to operate in the market.
The Darmstadt regional council, which is responsible for German licensing, issued the approval Friday, authorising the operator to offer online and land-based sports betting throughout the country.
“We are very pleased to be among the first to be able to offer our betting program to our sports-loving customers with a state license,” said Markus Ettlin, sports betting manager at Gauselmann Group. “After many years of legal limbo, binding rules now apply to everyone on the German sports betting market.”
“The future will show to what extent the state and the responsible regulatory authorities will now protect the licensed market participants and thus also the consumers from illegal providers,” Ettlin added. “In any case, we will do our best to ensure fair competition, which is ultimately in the interests of every consumer.”
Paul Gauselmann, founder of Gauselmann Group, commented: “As early as 2014, my group of companies had more than met all the requirements in the first license procedure and emerged as number one from the examination of this extensive procedure. Unfortunately, it has taken until today to end this legal state of uncertainty. But I am all the more pleased that we are finally among the first.”
The Darmstadt regional council also approved licenses Friday for four GVC Holdings brands.