Tipp24 SE: Changes to UK Gaming Duty Regime Expected to Significantly Reduce Expenses

Oct 10, 2014 9:56 PM

Tipp24 SE  / Key word(s): Legal Matter

10.10.2014 19:56

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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As a result of changes to be implemented by the UK fiscal authorities
regarding the basis for the assessment of remote gaming duty, MyLotto24
Limited, a fully consolidated minority shareholding of Tipp24 SE, will
cease to be liable for the payment of such duty on its gross gambling yield
derived from business outside of the United Kingdom as of 1 December 2014.

The effect of the reduction of MyLotto24 Limited's remote gaming duty
liabilities will depend on the volume and geographical origin of its future
gross gambling yield. Had the new rules already applied to the gross
gambling yield of the past four quarters, consolidated direct costs of
operation would have been reduced by a total of ca. EUR 16.5 million in
that period, with a corresponding positive effect on the EBIT.


10.10.2014 The DGAP Distribution Services include Regulatory Announcements,
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Language:     English
Company:      Tipp24 SE
              25 Southampton Buildings
              WC2A 1AL London
              United Kingdom
Phone:        +44 (0)20 3739-7123
Fax:          +44 (0)20 3739-7199
E-mail:       frank.hoffmann@tipp24.co.uk
Internet:     www.tipp24.co.uk
ISIN:         GB00BHD66J44
WKN:          TPP024  
Indices:      SDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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