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Jackpot winner causes Tipp24’s forecast adjustment

tipp24 jackpotOnline gambling operator Tipp24 has announced an adjustment to its yearly forecasts after one of its customers won a lottery jackpot worth €17.5 million ($24.1 million).

The player won the jackpot on secondary lottery MyLott24, a fully consolidated minority shareholding of Tipp24.

Tipp24 said that the winnings pay-out would reduce consolidated revenue in the current 2013 fiscal year by the same amount paid out.

The firm now forecasts revenue to be around €124 million this year, down from an initial forecast of €130-140 million.

In addition, the forecast for earnings before interest and taxes is to drop by approximately €13.3 million.

Tipp24’s previous EBIT forecast stood at between €20-30 million, but the firm now forecasts EBIT at about €17 million.

The new forecasts have been made on the assumption of a normal course of business for the remaining fiscal year, with the absence of very large jackpots and maintaining an average winnings pay-out.

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