Nordwestlotto Schleswig-Holstein and Land Brandenburg Lotto have terminated the existing contracts with FLUXX subsidiary ANYBET with effect from December 31, 2006.
“As a competitor that is coming up with new, imaginative ideas, we are evidently causing the monopolists such a headache that the lottery companies have now decided to continue obstructing FLUXX, despite being warned by the Federal Competition Authority. Their actions appear all the more questionable in view of the competition authority\’s forthcoming ruling on more competition in the lottery market in August,” commented Rainer Jacken, spokesman for FLUXX.
Despite FLUXX expects to be able to compensate for the potentially negative effect on earnings in 2007 and beyond with new partnerships as well as with the new business area of sports betting, shares in the company fell as much as 18 per cent.
In separate news, the Higher Administrative Court has ordered the immediate end for all private sport beting outlets in North Rhine-Westphalia.
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