Lotto24 granted lottery ticket brokerage permission

In an industry update, ZEAL Network SE advised that Lotto24 has received a supplement to its existing brokerage permit allowing for lottery tickets to be brokered via Tipp24 domains on behalf of German state lottery companies, a significant condition for the completion of Zeal’s public takeover offer for Lotto24.

The permission was granted by the Lower Saxony Ministry of the Interior.

Dr. Helmut Becker, CEO, ZEAL, said: “This is a key building block in our journey to reunite with Lotto24, transform ZEAL’s core German business model and accelerate growth in the online lottery market in Germany and beyond.

“It is good news for customers, shareholders and the German Federal States and their lottery beneficiaries. We look forward to working in partnership with Germany’s state lotteries and thank the authorities and the Gambling Council for their supportive and collaborative approach.

“We encourage Lotto24 shareholders to continue tendering their shares and to join us on this exciting journey.”

Zeal’s Lotto24 transaction will, on completion, create a digital lottery group with over five million combined global customers, current combined billings of about Euro 500 million, and a diverse international footprint, a company statement reads.

ZEAL’s intention to reacquire control of its myLotto24 and Tipp24 subsidiaries will transform its German secondary lottery business into a locally licensed online brokerage model.

The offer acceptance period ends on 10 April 2019.