Tipp24 shareholders to vote on UK relocation
Decision regarding move from Hamburg to be made at Annual General Meeting.
German operator Tipp24 could be set to relocate from Hamburg to London, with the group’s chief executive describing the move as “A logical step”.
Shareholders will vote on the proposals at June’s Annual General Meeting, and CEO Dr Hans Cornehl said in a statement: “There is no other European nation where the conditions for our strategic development are more favourable than the UK.”
The operator has already made its first steps in the UK egaming market, acquiring a 25.7% stake in UK Gambling Commission-licensed GeoSweep developer Roboreus – now known as Geonomics – and Dr Cornehl described the deal as “An important step [towards a relocation to the UK].
“[The UK] has a strong core of successful online companies, a comparatively large pool of skilled employees with relevant sector experience and a stable regulatory environment which is favourable for us,” added the CEO.
Tipp24 has made a number of senior appointments in recent months as it has looked to grow the business, with Andreas Keil arriving as CEO in January.
The company also appointed its first ever head of business development, with former Ladbrokes director of ecommerce and mobile Paul Witten taking that role in tandem with his responsibilities as managing director of Tipp24’s UK subsidiary.
A statement from Tipp24 described the proposed relocation as “A logical consequence of the strategic realignment of Tipp24 SE following the spin-off of its German operations in July 2012…by way of the IPO and stock market listing of the now independent Lotto24 AG.”