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Tipp24 Serious drop in net profi

Serious drop in net profit reflected in year-to-date numbers.
A small increase in revenues but a big dip in earnings before interest and tax (EBIT) recorded by Tipp24 in its nine months year-to-date numbers is unlikely to please investors.
In a statement released this week Management revealed that in the nine months to September 30 revenues barely increased at Euro 105.4 million (Euro 1.4.4 million last year) , but earnings before interest and tax plunged from Euro 26.2 million in the comparative period last year to just Euro 11.1 million in 2014 thus far.
Net profit dived from Euro 18.4 million last year to Euro 1.1 million in 2014.
The decline is attributed to increased personnel, financial, consulting, marketing and operational costs as the company tries to expand its business in wider fields.
CEO Dr, Hans Cornehl assured investors that the company was on-track to meet its revised forecast, and reported progress on the company's geographically based online lotto enterprise in Britain, GeoLotto, apparently undeterred by the lack of success the concept encountered in the past in Maritime Canada

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Gambling News :

Wanajump Launches - #Wanajump Spanish online and land gambling operator Grupo R. Franco appears to be emulating the William Hill group, announcing this week that it is to begin a start-up accelerator program for innovative entrepreneurs, which it has titled Wanajump.

Coral Launches player proposition betting product - Digital Sports Tech, a business-to-business software provider of sports betting solutions, has signed a deal with UK online and land sports betting operator Coral to provide an innovative player proposition betting product.

Oshi online casino now accepts fiat currencies - The Oshi online casino, which started just a year ago as a Bitcoin-denominated operation, has described its expanded activity in a statement this week, noting that in addition to Bitcoin it now accepts fiat currencies and has added new game providers to its roster of suppliers.

New Standards for UK Online Gambling - Online gambling service and technology providers, along with operators and testing agencies will be studying the new gambling software and technical standards proposal published by the UK Gambling Commission following a public consultation.

Pennsylvania Gambling Bill 1887 returned with additions - The interaction between the Pennsylvanian House and the state Senate has become increasingly like watching a game of ping pong as the two political establishments wrestle with online gambling legalization and court-ordered tax fixes in the dying days of the current political season.

UKs Advertising Standards Authority vs Ladbrokes - A Ladbrokes Casino email promo has fallen foul of the UKs Advertising Standards Authority who deemed significant terms and conditions concerning bonusing to be unclear or misleading.

Mybet Earnings Struggle - The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".

Tom Horn Awarded Malta Gaming License - Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.

Calvin Ayre invests in new Antigua Business Center - Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.

Attack of the Zombies Slot - Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.

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