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London-listed lottery brokerage Zeal Network has retaken control of its former subsidiary Tipp24 and added the business to its German secondary lottery arm.
Zeal initially launched the Tipp24 secondary lottery operation from the UK 10 years ago, due to a ban on brokering online lotteries in Germany at the time, but the brand is now able to serve the German market.
As an official partner of the German Association of State Lottery Companies (DLTB), Tipp24 will broker tickets for customers directly to German state lotteries.
Up to 14 May 2019, this includes Tipp24 users only. Both Lotto24 and Tipp24 customers are included from 15 May 2019 to the end of the year. 3) ABPU: Average billings per user, is calculated as the total billings in the year divided by total monthly active users. It includes Tipp24 users and their billings up to 14 May 2019. The Lower Saxony Ministry of the Interior okayed Zeal’s request to launch lottery brokerage services through its Tipp24 domains. The Ministry has allowed Lotto24 a supplement to its existing brokerage permit covering the Tipp24. It means that players can purchase tickets for Germany’s state lotteries via the Tipp24.de and dot.com sites. Spielen Sie LOTTO 6 aus 49 online - schnell, sicher & staatlich lizenziert. Lotto am Mittwoch, Samstag, mit Spiel 77, Super 6 und Lotto-Dauerschein. The latest tweets from @Tipp24com. The myLotto24 Limited and Tipp24 Servic es Limited subsidiaries (aligning the com panies' legal ownership and control) in 2019 and transform its core German lot tery betting business into locally licensed online brokerage. LOTTOVATE Lottovate operates primary lotteries and develops bespoke lottery platforms that.
Zeal set out plans to retake control of Tipp24 upon closing the acquisition of its former subsidiary Lotto24 via an all-share public takeover in May this year. The brokerage is also seeking to reclaim control of myLotto24 and transform its German secondary lottery business into a locally licensed digital lottery broker, with the idea of building on Lotto24’s position in the German market.
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“We have fully implemented what we announced; as of today, Lotto24 and Tipp24 are reunited in the German brokerage business,” Zeal chief executive Helmut Becker said. “We would like to thank the state lotteries and supervisory authorities for their trust and are convinced that we can lead the German lottery safely into the digital future as a partner of the state lottery companies.”
As part of the brokerage activities of the Lotto24.de, Tipp24.com and Tipp24.de brands, Zeal said it now generates income without any bookmaking risk of its own. Customer winnings are guaranteed by the state and paid out by the state lotteries.
In September, Zeal revealed shareholders have voted to relocate its registered office from the UK back to Germany. The vote at a General Meeting last month passed with a majority of 99.9%, with the relocation due to go ahead before the end of October.
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Zeal said the aim of the relocation is to facilitate the integration of the Zeal and Lotto24 divisions, as well as leverage the expected cost synergies.