Jaxx to Sell Its Lotto Business After All?


Unsettled political situation does not stop the gambling group to move forward with the plans

Despite the political uncertainty in the regulatory and licensing jurisdiction Schleswig Holstein in northern Germany, gambling group Jaxx SE decided to push forward the sale of its lotto business.

Namely, the political issues may arise from the situation that emerged over the weekend when the governing coalition headed by the CDU party only just squeaked past the Socialists at the poles, placing the latter in a strong position to form a coalition of its own. The consequences for the industry may be that the now firmly established licensing regime may be overturned on a political whim, but what will happen eventually remains to be seen.

However, all this insecurity does not seem to make Jaxx hesitate when it comes to the deal for its lotto side of business. On the contrary, it has divested itself of Euro 12.5 million and it made slow but steady progress on the due diligence process. Thanks to these advances, Jaxx can now claim Euro 8 million of the consideration due on the deal, while another Euro 1 million falls due at the end of Q3 2012, with the balance payable in a six-year fixed interest loan on a quarter by quarter basis.

Bingo Society News General Bingo News

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

3mins ago someone from us flag United States read Busy Bingo - Closed 11/214 review

Bingo Community

Share this page on:
Follow LBB on:
Follow LBB

Join now for full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.

In the last 24h

Totals

  • New Members
    4
  • Members Online
    14
  • Guests
    979


eighteen plus only

Follow LBB on Facebook Follow LBB on Twitter Follow LBB on Pinterest Follow LBB on Google plus

DON'T MISS OUT!

Subscribe to our newsletter and get access to tournament codes, the biggest and best exclusive offers, new brand alerts, rogue reports and more!

Enter your email adress:

T&C's Apply. 18+


You have been successfully subscribed to receive LBB newsletter!