Tipico Moves Forward With Expansion Plans

CEO claims the group is to remain in Malta A report arrived this week concerning the Malta-based and German-owned online betting group Tipico, informing the public that the company intends to double its business within the next three years. It was stated by former Electronic Arts executive and current Tipico CEO Jan Bolz, that thanks to the recent Euro 2012 football championship Tipico is able to boast excellent results - its best yet with a 70 percent increase. Regarding the company's base, he said: 'Tipico is in Malta for good. We are not planning to relocate any function from the island. Even if we expanded into the US in the long-term, we would not change anything about our headquarters here.' What's more, the company is to double its workforce in Malta, Bolz said, adding that two hundred local staff will be employed by next year. However, Tipico's growth in Malta is not without challenges, he said, as there's a great shortage of specialized software developers and engineers everywhere in the world, and especially in Malta. The company plans to solve this problem at least partly by offering internships to local tertiary educational bodies. He reminded that, in order to pursue its expansion plans, the company has applied for licensing in Italy and Denmark, and is preparing to file applications in Austria and Belgium. 'Fast-growing industries are more fun,' he said. "I hope to use my background in entertainment, particularly games, to grow new business models at Tipico. There is potential in various target groups in the sports betting industry.' Finally, Bolz addressed the company's long-term plans, stating that its strategy is to diversify its business since in the next five years it wants to tap the synergies and cross-marketing opportunities in the games and betting sectors.