The effects of the loss of the American market, thanks to that country’s UIGEA laws, seem to be having a spill-over effect.  Results being reported from Germany show one well known company, AIM listed VC Gaming, is struggling with tax losses of Euro 28.8 million.

The same company achieved profits of Euro 12.8 million last year, sot what’s the problem?

Simply put, Germany is still very unclear on how it will proceed regards its regulation of the online gaming industry, including the playing of free online bingo.  This is despite a well documented insistence by the European Commission that all EU member states start to open their online gambling markets.

What this is forcing German companies to do is to look to other markets and diversify their operations, a trend that is bound to spread as certain European countries continue to practice monopolistic state-run gambling operations.  Italy’s recent relaxation of its gambling laws has made it an obvious destination for companies like VC Gaming who also hope to offer an online bingo service as part of its product range this year.

The migration of companies to more friendly market environments will be the loss of those countries who seek to maintain their old monopolistic gaming systems.

Written by John Witherspoon - Find cool bingo games online and play online bingo at BingoStreet.com

This entry was posted on Wednesday, April 18th, 2007 at 5:38 am and is filed under Online Bingo. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.