{"id":9658,"date":"2024-11-28T17:14:22","date_gmt":"2024-11-28T17:14:22","guid":{"rendered":"https:\/\/www.mundovideo.com.co\/en\/?post_type=europe&#038;p=9658"},"modified":"2024-11-28T17:14:24","modified_gmt":"2024-11-28T17:14:24","slug":"brussels-declares-illegal-german-public-capital-injection-in-favour-of-casino-operator","status":"publish","type":"europe","link":"https:\/\/www.mundovideo.com.co\/en\/europe\/brussels-declares-illegal-german-public-capital-injection-in-favour-of-casino-operator\/","title":{"rendered":"Brussels declares illegal German public capital injection in favour of casino operator"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The European Commission (EC) said on Friday that a 64.8 million euro German public capital injection granted to the casino operator WestSpiel violates European Union (EU) rules on state aid.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Brussels said in a statement that Germany must now recover the public aid, including interest. In December 2019, the EC opened an in-depth investigation to analyze whether the public financing granted by Germany to WestSpiel complied with EU rules on state aid.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.mundovideo.com.co\/assets\/feria24\/ice-london-termino-y-se-despidio-la-feria-en-imagenes-mgl.png\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The Commission&#8217;s investigation covered two measures in favor of the casino operator taken by the bank NRW.BANK, 100% owned by the German federal state of North Rhine-Westphalia.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These were an annual loss coverage in the years 2009 to 2015 amounting to approximately 63.6 million euros and a capital injection in 2015 amounting to 64.8 million.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Following the investigation, Brussels concluded that the annual loss cover does not constitute State aid and does not provide an economic advantage to WestSpiel.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, the Commission did find that the capital injection in 2015 is incompatible with the EU club&#8217;s State aid rules. It stressed that in this case an economic advantage is given to WestSpiel, since the decision to inject additional capital into a company, despite its continuously negative financial situation, was not the one that a comparable private investor would have chosen.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The EC thus ordered Germany to recover the 64.8 million euros, plus interest, from WestSpiel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The European Commission (EC) said on Friday that a 64.8 million euro German public capital injection granted to the casino operator WestSpiel violates European Union (EU) rules on state aid. Brussels said in a statement that Germany must now recover the public aid, including interest. In December 2019, the EC opened an in-depth investigation to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9659,"menu_order":221,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"inline_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-9658","europe","type-europe","status-publish","format-standard","has-post-thumbnail","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Brussels declares illegal German public capital injection in favour of casino operator - Mundo Video Entertainment | Casino News in Latin America and the World<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mundovideo.com.co\/en\/europe\/brussels-declares-illegal-german-public-capital-injection-in-favour-of-casino-operator\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brussels declares illegal German public capital injection in favour of casino operator - Mundo Video Entertainment | Casino News in Latin America and the World\" \/>\n<meta property=\"og:description\" content=\"The European Commission (EC) said on Friday that a 64.8 million euro German public capital injection granted to the casino operator WestSpiel violates European Union (EU) rules on state aid. Brussels said in a statement that Germany must now recover the public aid, including interest. 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