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Tipp24 confident for full year despite first quarter setback

8th May 2014 11:12 am GMT

German lottery brokerage operator Tipp24 has reported an 18 per cent drop in consolidated revenue to €30.8m for the first quarter, although the company remains confident that it will meet its full year guidance.

Tipp24’s revenue was impacted by a jackpot payout of €6.7m from its MyLotto24 subsidiary. Including this amount, total payouts for secondary lottery winnings in Q1 were €4.4m above the expected statistical payout value, compared to last year where it was €5.0m below [...]

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