Who Is Buying Out The Shareholders?

Tipp24, the German online lottery company has perhaps been too successful for its own good recently. There are reports circulating that an as yet unidentified company is attempting to buy up its stock.

According to a shareholder in Tipp 24, Earlybird Venture Capital, has notified the company that two organizations it was associated with have sold holdings constituting 13 percent to a single investor. Tipp24 AG confirmed in return that it has been advised by several other major shareholders that approaches had been made by a third party looking to buy up Tipp 24 shares.

The company plans to stabilize its share in the dynamic online lottery market and expects further growth in billings and revenues by just under 20 percent, generating an EBIT result slightly higher than that of the previous year of €7.2 million.

In 2006, Tipp 24 reported revenue of €34.58 million. Analysts on average expect the online lottery firm to report revenues of €40.78 million and EBIT of €8.01 million for the full year 2007.

Reuters confirmed this week that Tipp 24 is on track to meet its business targets for fiscal 2007.

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