Jackpot winner causes Tipp24’s forecast adjustment
Online 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.
More about jackpots : www.casinos-jackpots.net