Tipp24 : Another bumper quarter for German gaming firm

Tuesday, November 8, 2011 :  TIPP24 EXCEEDS ANNUAL TARGET WITH A QUARTER TO GO
 
Another bumper quarter for German gaming firm
 
Germany-based gaming firm Tipp24, parent company of ventura24.es, giochi24.it, mylotto24.co.uk, tipp24.com and games platform tipp24games.de, delivered a strong performance in its quarter 3, 2011 results announced this week.
 
Following two successful reporting periods this year, quarter three places the company in excess of its annual target with another quarter still to go.
 
Key performance highlights include:
 
–     Consolidated revenue up by over 58.4 percent to Euro 105.4 million (Q3/2010: Euro 66.5 million);
 
–     Consolidated EBIT almost tripled to Euro 40.4 million (Q3/2010: 13.6 million).
 
The company's abroad sector contributed the "lion's share" to its strong performance as well as experiencing a more favourable payout statistic over last year.
 
Tipp24's chief executive officer Dr. Hans Cornehl took the opportunity to appeal to Germany's 15 federal states to consider break-away state Schleswig-Holstein's more liberal view on gambling.