Last updated on July 3, 2019
Bottom line Veltyco posted an operating result amounting to €17.3 million loss (2017: €7.5 million) impacted by €10.7 million impairment charge.
- Revenues from continuing operations increased by 18% to €4.7 million (2017: €4.0 million
- Revenues from discontinued operations of €6.9 million (2017: €12.2 million)
- Total Revenues reported of €11.7 million (2017: €16.2 million)
According to the company’s press release, it ceased marketing activities in the online financial trading and lottery verticals. In the future, Veltyco will focus on the marketing of sportsbook and online casino activities.
Damage claims and other uncertanties
Last week, some of the large company’s shareholders threatened to file a million-dollar lawsuit and informed the Board of Directors as well as the legal representatives of the main shareholders. No statement from Veltyco has been heard about this either.
It has not yet been explained in detail what role Veltyco director Marcel Noordeloos, for example, played in connection with the Lenhoff investigations. Many of the documents complained of bear his signature. Lenhoff allegedly snitches on Noordeloos and other former partners accordingly. Lenhoff and Marcel Noordeloos founded the Velmont MNE in Montenegro and allegedly wanted to expand the illegal business in Montenegro.
According to reports, the German authorities have meanwhile requested Lenhoff’s extradition from Austria to Germany. They want to indict him and his network in Germany. The Austrian authorities appear to have agreed to the extradition.