Tipp24 AG, an Internet lottery brokerage, said the German state of Saxony-Anhalt withdrew its appeal of a ruling that struck down restrictions of the German state treaty on gaming for private lottery brokers.
The Halle administrative court had found the restrictions excessive, as there was no evidence that lotteries cause gaming addiction. Saxony-Anhalt has now retracted its appeal of the November ruling, making the judgment final, Tipp24 said in a statement distributed by DGAP wire service today.
“The judgment confirms our long-standing experience that there are no risks associated with the marketing of a lottery,” said Hans Cornehl, a Tipp24 SE (TIM) board member. “Therefore there is no longer any reason for imposing unnecessary restrictions on the private brokering of state lotteries.”
The German State Treaty on Gaming, which has generated a myriad of court rulings, is elapsing at the end of this year. Lawmakers are in the process of drafting new rules. The ruling cited by Tipp24 today applies to the current rules only.
Tipp24 rose as much as 8.5 percent to 35.15 euros in Franfurt trading as of 11:41 a.m., a a new 52-week high.
The press department of the state prime minister’s office didn’t immediately return a call seeking comment.
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