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

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, Financial/Corporate News and Press Releases.
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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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