Tipico explores potential £1bn sale
Owners of German market's leading betting and gaming operator believed to be open to sale
Germany betting giant Tipico is understood to be sounding out potential buyers with private equity firms and UK rivals among those interested in making a move for the firm which is valued in the region of £1bn.
The Wall Street Journal reported the four owners of Tipico have tasked J.P. Morgan and Rothschild with exploring options for the business, one of which includes a sale, with Amaya, 888 and William Hill listed among those who might be interested.
A source close to Tipico told eGaming Review this afternoon that reports of the firm’s valuation being in the region of £700m to £1.1bn were on point.
But the source stressed reports at this stage were “pure speculation” and it could be the firm was merely reviewing its options.
Germany’s ongoing regulatory woes have created concerns over the long-term viability of the German market, although Tipico has proved a success with the privately owned company recording turnover of around 2.5bn in 2014.
The firm also has a high-profile sponsorship agreement in place with Bayern Munich football club, topped the inaugural eGR Germany Power 10 list, and has sizable businesses in other markets such as Austria and Denmark.