ZEAL gets go-ahead for arranging lotteries via Tipp24 domains
The ZEAL Network announced today that another important milestone in the planned acquisition of Lotto24 AG has been achieved after the Lower Saxony Ministry of the Interior granted Lotto24 a supplement to their existing brokerage permit, which allows To distribute lotteries via the domains of Tipp24 on behalf of the German state lottery companies.
Thus, an essential condition for the completion of the public takeover bid for Lotto24 is fulfilled.
Dr. Helmut Becker, CEO of ZEAL: “This is an important element on the way to reunification with Lotto24, to transform ZEAL’s German core business and to accelerate growth in the online lottery market at home and abroad.” It’s good news for customers We look forward to working in partnership with the state lottery companies in Germany and thanking the authorities and the Gambling Council for their support and cooperation, and we recommend that Lotto24 shareholders accept the exchange offer and join us on this exciting journey accompany.”
The acquisition of Lotto24 will create a digital lottery group with a current total of more than 5 million customers worldwide, a combined transaction volume of currently around EUR 500 million and a broad international presence. As part of the transaction and in line with the new strategy of reducing the risk profile of the business model and focusing on locally licensed businesses, ZEAL intends to regain control of its subsidiaries myLotto24 and Tipp24 and to convert the German second lottery business into a commercial brokerage business.