888 is breaking into its savings to prepare for legal and regulatory issues in Austria and Germany. [Image: Shutterstock.com]

William Hill owner 888 Holdings has put millions aside to deal with regulatory and legal repercussions in the markets of Austria and Germany. The company announced the preparations in its recent financial report, earmarking £116m ($142.8m) for “ongoing legal and regulatory matters” in the two countries.

Casinos Austria has a monopoly of gambling in Austria and so other operators are contravening the law if they operate there. Any operator found to offer their services in the country is subject to administrative penalties, according to gambling law.

888 officially went live with its Mr Green brand in Germany in March 2023

Meanwhile, Germany only legalized online gaming in 2021. 888 officially went live with its Mr Green brand in Germany in March 2023. However, many operators offered their services in the country for years before this without licenses.

888’s announcement comes just one week after PokerStars and Bwin were ordered to pay back players in the Netherlands after operating there illegally. The two operators have to refund the poker players their $450,000 in losses incurred between 2006 and 2021, before the Dutch online gambling market went live in October 2021.