|The head of the European Commission (EC), former Irish Finance Minister Charlie McCreevy, has reiterated the EC’s commitment to breaking up gambling monopolies in an article published by news agency Bloomberg.|
In the article, McCreevy argues that the EC will not give up the fight to open up the EU gambling market, stating that it will call on the help of the European Court of Justice (ECJ) to make compliance obligatory as per the Union's requirement for the free movement of trade and services.
The EC has so far taken legal action against 10 of the 27 EU member nations requiring them to alter their restrictive gambling policies to make way for competition from fellow member states.
The death of EU gaming monopolies could spell a 23 percent increase in the European market to a staggering $117 billion, according to a report by UK-based Global Betting & Gaming Consultants.
Leading online and land-based bookmaker William Hill could also benefit from the potentially expanding market, bumping up revenues before interest and taxes by £35.7 million according to recent analysis from investment banking firm Numis Securities.