BUSINESS

Tipp24 setting records; win2day going Flemish; SNAI loving everything but horses

TAGs: Belgium, Italy, Snai, Tipp24, win2day

EU flagGerman lottery provider Tipp24 has surpassed forecasts and posted record profits for the second year running. Consolidated revenues grew 36% to €142m as EBIT growth hit a new high of €50m – a rise of 64%. This exceeded earlier growth estimates and Dr. Hans Cornehl, CEO of Tipp24, stated: “In a frequently changing regulatory environment, Tipp24 generated sustainable revenue and earnings growth in its fiscal year 2011. Since its foundation in 1999, the company has now posted record results in every one of its twelve fiscal years. Tipp24 is therefore excellently placed to achieve its key strategic targets. Our main focus is on re-establishing our German business and growing our international business, also as a service provider for lottery organizers.”

The parent company of win2day is considering applying for a licence to operate an online gambling site in Belgium. Austrian Lotteries unveiled its latest results this week with turnover for the company 6.7% to €3.4billion. win2day saw a rise of 5% to €1.125bn and it was off the back of that they decided Belgium was the place to become licenced. According to their release they’ve sent in the application and are waiting to hear back about when they have to submit a list of games they propose to offer to punters.

To finish off our Eurotrip, Italian sports betting and gaming firm SNAI released its projections for the coming year. They expect to revenue to be somewhere in the region of €620million and €650m with record growth across all verticals except for horse race betting.

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