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BRIEF-Betfair to withdraw from Greece due to regulatory issues
November 26, 2012 / 7:11 AM / 5 years ago

BRIEF-Betfair to withdraw from Greece due to regulatory issues

LONDON, Nov 26 (Reuters) - Betfair Group PLC : * Will withdraw from the Greek market until there is greater clarity on the

regulatory situation * Has, to date, not applied for a permit to operate in Greece as, according to

legal advice * Value of permits unclear and considers gambling legislation in country to be

inconsistent with European law * Fiscal conditions attached to these permits make the market economically

unattractive * Betfair had been expected to generate £13 mn of revenue and £7 mn of

contribution from Greek makt in FY

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