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Tipp24 Serious drop in net profi
Saturday November 15,2014 : TIPP 24 ONLINE SPORTS BETTING GROUP BATTLES
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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2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
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New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
NY Rangers vs. Devils on 12/21 -
When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.
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