DGAP-News: Tipp24 SE: investment in geo-based online lottery GeoSweep (english)
Dec 21, 2012 2:51 PM
Tipp24 SE: investment in geo-based online lottery GeoSweep
DGAP-News: Tipp24 SE / Key word(s): Miscellaneous
Tipp24 SE: investment in geo-based online lottery GeoSweep
21.12.2012 / 13:50
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- Important strategic step for both parties as part of their
international expansion
- GeoSweep range to be expanded in North America
(Hamburg, 21 December 2012) As part of its international expansion
strategy, Tipp24 has acquired a stake in the UK company Roboreus Limited.
Roboreus operates the geo-based lottery game GeoSweep (www.geosweep.com)
via its UK subsidiary GeoSweep Limited. In this online lottery game,
players purchase squares ('Geos') on an online map that act as lottery
tickets in daily location-based prize draws. The most popular Geos picked
include players' own houses, well-known buildings and areas of particular
interest such as sports stadiums and national monuments. Operating under a
UK Gambling Commission licence, the product range of GeoSweep is currently
available over the entire geographical area of Great Britain. The lottery
is also offered in parts of Canada via a cooperation agreement. GeoSweep
acts as the service provider for the Canadian provincial lottery
organisation ALC. It is planned to expand the cooperation with state
lottery companies in the near future - focusing on North America.
The investment implements Tipp24's strategy of acquiring its own licences
and establishing a new international business division dedicated to
providing Internet services to lottery companies.
Dr Hans Cornehl, CEO of Tipp24 SE, states: 'The investment is an important
step in the internationalisation of Tipp24. GeoSweep is one of the few
truly attractive product innovations in the entire online lottery business
over the last ten years. The product can be easily and flexibly adapted to
local market needs around the world. With our expertise in the end-user
business, we can play an important role in helping GeoSweep achieve further
international growth.' Dr Cornehl has been appointed as one of the four
non-executive directors of Roboreus.
In the course of the transaction, Tipp24 will subscribe to new shares to be
issued by Roboreus Limited for a cash contribution of GBP 10 million
(approx. EUR 12.4 million). In addition, Tipp24 will acquire shares from
current Roboreus shareholders, in a total shareholding in Roboreus of 25.7
percent. After a period of three years, an additional maximum earn out of
GBP 1.9 million (approx. EUR 2.3 million) can be achieved, based on the
financial performance of GeoSweep.
About Tipp24 SE: Tipp24 SE was founded in September 1999 and holds equity
interests in a number of companies in Spain, Italy and the UK, which enable
participation in lottery-based games via the Internet, especially via the
websites www.ventura24.es, www.giochi24.it, www.mylotto24.co.uk and
www.tipp24.com. From its foundation to the end of 2008, Tipp24 SE brokered
tickets worth over 1.5 billion euros to the state lottery companies - in
the latter years over 330 million euros annually. Following its successful
IPO in 2005 (Prime Standard), the company was admitted to the SDAX index in
June 2009. In July 2012, German online brokerage activities were
successfully spun off from Tipp24 SE in the form of the company Lotto24 AG,
which is listed separately on the stock exchange.
Press Contact:
Tipp24 SE
Andrea Fratini
Head of Media and Public Relations
Tel.: +49 (0)40 32 55 33 660
E-mail: presse@tipp24.de
Internet: www.tipp24-se.de/press/
End of Corporate News
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21.12.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Tipp24 SE
Straßenbahnring 11
20251 Hamburg
Germany
Phone: Tel.: +49 (0)40 325533-661
Fax: +49 (0)40 325533-5600
E-mail: presse@tipp24.de
Internet: www.tipp24-se.de
ISIN: DE0007847147
WKN: 784714
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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197739 21.12.2012
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