Lotto24 AG: Insourcing IT platform

Lotto24 AG  / Key word(s): Miscellaneous

13.10.2014 17:56

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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Ad hoc announcement acc. to Sec. 15 WpHG

Lotto24 AG: Insourcing IT platform

(Hamburg, 13 October 2014) Lotto24 AG is planning to insource its IT
platform, i.e. take over development of its operating software and IT
operations by no later than 31 December 2015, and has made the
corresponding arrangements with its current IT service providers. Lotto24
is to set up its own IT department, which will also include experienced
staff from the current IT service providers. In accordance with the
existing contractual terms, Lotto24 AG will receive the necessary software
for its IT operations free of charge.
All in all, the positive effects of the transaction - resulting among other
things from reduced costs for the technical processing of gaming operations
and IT development - will more than compensate for the additional personnel
expenses in the medium term. If necessary, the additional funding
requirement of around 3 million euros (which will be mostly incurred in
fiscal year 2015) can be covered by a vendor loan of the same amount.
Lotto24 AG believes that the move will ensure its long-term independence
and control over the strategically important field of IT and that its
systems operations in Germany will also prepare the path for further B2B
and business services. Moreover, Lotto24 AG expects that insourcing will
enable it to meet its development needs more flexibly, quickly and simply
in future.


13.10.2014 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Lotto24 AG
              Straßenbahnring 11
              20251 Hamburg
              Germany
Phone:        +49 (0)40 8 222 39 0
Fax:          +49 (0)40 8 222 39 70
E-mail:       ir@lotto24.de
Internet:     www.lotto24-ag.de
ISIN:         DE000LTT0243
WKN:          LTT024
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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