The insolvency proceedings at Tipster Ltd are advancing as lawyer Dr. Jörg Gollnick takes on the role of provisional insolvency administrator for the troubled operator.
Dr. Jörg Gollnick, employed at Cologne-based law firm Heidland Werres Diederichs Rechtsanwälte, serves as the provisional insolvency administrator not only for Tipster Ltd but also for Tipster Service GmbH, a subsidiary within the Tipster group.
Gollnick emphasized that the success of the restructuring largely depends on the value of the sports betting operator.
“The insolvency filing for Tipster Ltd. in Germany has paved the way for the comprehensive restructuring of the entire Tipster group of companies. The group holds significant value, with Tipster Ltd. alone generating an annual turnover of over €250 million.”
“We have established a well-organized investor process to secure a robust partner who can provide long-term support for the business operations of the Tipster Group, including its franchisees.”
Reported Tipster Raid
In April, law enforcement conducted raids across several German states, including North Rhine-Westphalia, Bremen, Berlin, Saxony, and Bavaria. These raids were part of a comprehensive investigation spanning two and a half years, targeting an unnamed sports betting operator.
As a result of the raids, six individuals were apprehended. According to the German tabloid Bild, the headquarters of Tipster in Cologne were among the locations raided.
The German Sports Betting Association (DSWV) issued a statement clarifying that the operator involved in the raids was not affiliated with their association.
The alleged criminal activities being investigated encompass illegal gambling operations and the formation of a criminal organization.