EGR Power 50 2019: Tipico (06)
06. Tipico (07)
FINANCIALS: Full-year financials were provided to BDO under a non-disclosure agreement but Tipico is well ahead of the competition below and had the highest growth score in the top 10
STRATEGY & IMPACT: Company has gone from strength-to-strength since CVC acquired a majority stake in the business and is a dominant force in the lucrative German market
GEOGRAPHIC REACH: Tipico is a market leader in Germany’s retail and online sports betting market, but it also has a strong presence in other local markets such as Austria
INFLUENCE & LEADERSHIP: CEO Joachim Baca was recently included in EGR’s 10 most infl uential online gambling people, compiled by Alun Bowden
Tipico was a new entrant in the 2018 EGR Power 50 – having provided its financial numbers to BDO for the first time in years – and was propelled straight into the top 10 ahead of the likes of 888 and Betsson. The operator’s seventh place finish definitely took a few people by surprise given the firm prefers to keep a comparatively low industry profile, but Tipico has gone one step further in 2019.
The Malta-headquartered operator has leapfrogged industry heavyweight William Hill into sixth position this time around, on the back of some very healthy financials. Although the figures themselves remain confidential, Tipico had by far the biggest growth score in the top 10 of the Power 50 based on BDO’s financial modelling and its final score was well ahead of the competition immediately below. Readers can likely make an educated guess as to Tipico’s approximate full-year revenue.
Power 50 companies which can make an open-and-shut case for being a true market leader in certain verticals or markets also score highly in criteria other than financials. Which is why, in addition to its eyewatering revenue, bet365 has maintained its number one position for so long – it is simply a market leader in sports betting and in many geographic markets too. In the case of Tipico, which was founded in 2004, the operator is known to be the leading brand in the increasingly lucrative German market, which was worth more than €1.6bn annually last year, per Eilers & Krejcik Gaming estimates.
Tipico has long been a market leader in Germany’s retail and online betting market, but the real turning point for the company came just over three years ago. In 2016, CVC Capital Partners acquired a majority stake in the business and then a couple of months later former bwin.party COO Joachim Baca was appointed its new chief executive officer. Tipico has kicked on in a major way since then and the fact Baca was recently named in EGR’s ‘10 most influential online gambling people this decade’ speaks volumes.