There is renewed opposition to the acquisition of Lotto24 by the British gaming operator Zeal. Gibraltar-based Zeal rival Lottoland wants to prevent the reunification of the sister companies and has a vague “alternative bid to take over certain parts of Zeal” on Monday Promised in the month.

Like the Zeal companies, Lottoland offers MyLotto and Tipp24 so-called second lotteries, in effect bets on the lottery numbers in different countries. However, Zeal wants to say goodbye to this controversial business model, at least in Germany, and will only act as an online broker for state lottery companies in the future. Lotto24 had already operated this business so far.

Lottoland would thus lose a competitor in the fight against national lottery monopolies as in Germany. To underline his intentions at Zeal, Lottoland has, according to its own account, bought a small stake in Zeal. This is apparently below the reporting threshold of three percent.

Lottoland calls for a postponement of Zeal’s Annual General Meeting on 18 January, which is to decide on a capital increase for the takeover and the exemption of Lotto24’s major shareholder, the Günther family. The small asset manager Burren Capital, also based in Gibraltar, had called on last week to reject the resolutions.

Zeal wants to reduce the risks with the change in strategy, but also accepts falling margins. Tipp24 operates in Germany – the largest market for Zeal – on a legally shaky basis. The transaction thus destroyed significant values, the Zeal Board act only in the interest of a small group of shareholders, argues founded by the German David von Rosen Lottoland. The Günther family, one of the largest lottery brokers in Germany, alone holds 32.2 percent of Lotto24 and, together with the shares of Günther Holding CEO Oliver Jaster, would have more than 30 percent of the merged company. The headquarters will be relocated after the takeover of Great Britain to Germany.