German operator now holds 25.7 percent stake in developer of GeoSweep online location-based lottery game.
Thursday 27th December 2012
Online gambling operator Tipp24 SE has invested £10 million in order to purchase a major stake in the British developer of the virtual location-based GeoSweep lottery game, Roboreus Limited.
Hamburg-based Tipp24 now holds a 25.7 percent stake in Roboreus, which includes shares additionally acquired from current shareholders. The deal follow'sOctober‚Äôs announcement that the Multi-State Lottery Association‚Äôs Powerball Group had voted to add the English firm‚Äôs Treasure Hunt promotion to its US offerings.
‚ÄúWe are thrilled to be working with a company so trusted and experienced in the Internet lottery industry,‚ÄĚ said James Oakes from London-based Roboreus.
‚ÄúWith over a decade‚Äôs experience in the market, Tipp24‚Äôs credentials, especially in relation to marketing, user experience and customer retention, are unrivalled.
‚ÄúSince Roboreus‚Äô inception, we have been dedicated to creating a robust industry-renowned gaming platform [and] Tipp24‚Äôs expertise in end-user experience will complement our existing strengths and help us make strides with the customer-facing side of our games.‚ÄĚ
Roboreus‚Äô flagship offering, GeoSweep, utilises Google Maps and offers players the ability to select real-world places to own on a game board that has been sliced into millions of tiles called ‚ÄėGeos‚Äô. These icons are then used as location-based tickets with participants able to buy their house, where they were married, their favourite sports stadium or the park bench where they had their first kiss. In addition, the system also delivers a social gameplay component via its GeoGroups and Treasure Hunt features.
‚ÄúWe are committed to injecting technological innovation into the lottery industry,‚ÄĚ said Oakes.
‚ÄúCustomers increasingly expect leading-edge interactivity and high quality in the games that they play. Having Tipp24 on board will help support us in achieving our goal of revolutionising the lottery industry with our games.‚ÄĚ
Roboreus stated that the investment and expertise provided by Tipp24 will assist it in developing ‚Äėthe end-user experience of its interactive games‚Äô and comes ahead of GeoSweep launching in further jurisdictions.
‚ÄúTipp24 and Roboreus have the shared aspiration of providing quality interactive offerings in a digital age,‚ÄĚ said Hans Cornehl, Chief Executive Officer for Tipp24.
‚ÄúWe were impressed by Roboreus‚Äô track record in creating a high-quality technologically robust platform and believe that our expertise will enable the company to bring the next generation of innovative solutions to the market.‚ÄĚ