Meinl Needs to Reimburse Starbet Investors

Professional ServicesBanks ♦ Published: March 23, 2013; 12:36 ♦ (Vindobona)

The Regional High Court (OLG) in Vienna has passed the judgement that Meinl Bank has to compensate sports betting company Starbet

Meinl Needs to Reimburse Starbet Investors / Picture: ©

Austrian sports betting enterprise Starbet was supposed to acquire an important position in the German gambling market. About 100 gaming clubs in the style of Admiral sports betting cafés should have opened and together with German TV channel RTL Starbet had intended to poach costumers from competing company bwin. The plan was a spectacular IPO in July 2006 and to attain a turnaround…