Tipp24 AG to end virtually all online advertising in 2009
Dec 8, 2008 9:27 AM
Tipp24 AG / Miscellaneous Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Reason is a regulation of the State Treaty on Gaming – allegedly to prevent gambling addiction Consequences of State Treaty on Gaming threaten 170 jobs in Hamburg Hamburg, December 8, 2008) As of January 1, 2009, Tipp24 AG will end virtually all online advertising for the brokerage of state lotteries in Germany. The reason is a regulation of the new State Treaty on Gaming which bans all Internet advertising for lotteries. The ban is aimed at preventing gambling addiction. However, there are no studies which prove that the lotteries brokered by Tipp24 – such as Lotto 6 from 49, the ARD TV Lottery and SKL – are particularly addictive. Tipp24 AG will continue to take legal steps against these bans. For this reason, the company will maintain its cooperation with a few of its partners until the legal situation in the cases already pending has been finally resolved. This will take place mainly in Berlin, as the Administrative Court there declared in principal proceedings that the State Treaty on Gaming infringed EU law and was thus void in many aspects. Jens Schumann, Chairman of the Executive Board of Tipp24 AG, states: 'It is particularly regrettable that despite the current economic crisis our politicians are clinging on to symbolic policies which not only massively hinder directly affected companies, such as Tipp24, but also have considerable knock-on effects. The online advertising industry, for example, which recently had to drastically downscale its forecasts for 2009 as a result of the weakening economy, will lose several million euros at a stroke.' At Tipp24 itself, over 170 jobs are threatened by the consequences of the State Treaty on Gaming. The listed company has been operating profitably since 2002 and contributed approximately 230 million euros to German tax revenues in the years 2007 and 2008 alone. The lotto stakes brokered by Tipp24 only benefited the German state lottery and the causes it promotes. About Tipp24 AG: Tipp24 was established in 1999 and is now the market leader for lottery products in the Internet on the basis of billings. The company succeeded in achieving impressive growth rates right from the start. Almost all state lottery products are supplied. It only takes a few mouse clicks to buy a lottery ticket – round the clock, quickly and reliably. The ticket receipt is kept safely, winners are notified about their prizes automatically by text message and e-mail and prizes are credited automatically. Subsidiaries of Tipp24 (http://www.tipp24.de) are Ventura24 in Spain (http://www.ventura24.es), Puntogioco24 (http://www.puntogioco24.it) in Italy and MyLotto24 (http://www.mylotto24.co.uk) in the UK. Shares in Tipp24 AG have been traded at the Frankfurt Stock Exchange since 2005. Press contact: Tipp24 AG Andrea Fratini Head of Media and Public Relations Tel.: +49 40 32 55 33-660 Fax: +49 40 32 55 33-5600 E-mail: presse@tipp24.de Internet: www.tipp24.de/presse/ 08.12.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Tipp24 AG Straßenbahnring 11-13 20251 Hamburg Deutschland Phone: +49 (0)40 325533-0 Fax: +49 (0)40 325533-77 E-mail: office@tipp24.de Internet: www.tipp24-ag.de ISIN: DE0007847147 WKN: 784714 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------