888 Braces for Legal Battles, Allocates $ 124M for Player Reimbursements

888 Holdings, a major player in the online gaming industry, is bracing for a legal storm. The company has earmarked $124 million to handle potential legal claims from players. This move is a response to the growing regulatory scrutiny in countries where 888 operates as an offshore entity. If the courts rule in favor of the players, the company could be looking at a total payout of around $124 million.

The spotlight is primarily on Germany and Austria, where similar legal battles have been fought and won by players. In Austria, a state-controlled gambling monopoly exists, and courts have historically favored players seeking reimbursement from offshore operators.

Despite regulatory pressures, 888 continues its operations in the Austrian market. 

“We remain completely confident in our position under EU law to offer these services to our players from Austria,” stated a spokesperson for the holding.

Industry heavyweights like 888, Entain, and Flutter, all holding a Malta gaming license (Malta being an EU member), argue that they are within their rights to provide services under EU legislation. They contend that the Austrian court rulings are at odds with established EU legal norms.