Tipp24 hopeful of Geolotto boost

Tipp24 hopeful of Geolotto boost

Friday, November 14, 2014 Totally Gaming

Sebastian Blohm, the global head of external and legal affairs at Tipp24, has told TotallyGaming.com that the online gambling company is hoping to end the year on a high thanks to its relaunched UK lottery game, Geolotto.

The operator began a fresh push on Geolotto in September and the company believes it could boost its final quarter after revealing that net profit was well down for the first nine months of the year.

In its figures for the three quarters through to September 30, Tipp24 announced that net profit was just €1.1m ($1.4m), compared to €18.4m for the same period in 2013. Consolidated EBIT was down by 236% year-on-year to €11.1m, while revenues were largely level with the 2013 at €98m.

However, the company said that it is on course to hit the targets that it set in August, when it issued a revision of earnings outlook. At that time, it said it expected revenue growth to be between €135-145m and EBIT between €15-25m.

Now it is looking for improvement in the last three months of the year, not least thanks to Geolotto, a map-based lottery game that received a marketing boost through a partnership deal with UK commercial broadcaster Channel 5.

“Our performance is in line with guidance,” Blohm told TotallyGaming.com.

“We are expecting a stronger last quarter of the year. Also, we are excited about the further development of the just launched innovative lotto game, GeoLotto.”

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