Germany’s Zeal Network, the lottery products supplier that brokers customers’ tickets to the state lottery companies through lotto24.de and tipp24.de, continues to grow.
The Hamburg-based company has reported strong results at the end of the first nine months of 2021, with increased billings and revenue despite low jackpots. The company has successfully delisted its Lotto24 AG, it reported.
In the period billings rose five per cent to €493.2m compared with €471.8m, most of it from Germany. Revenue was up one per cent to €65.1m.
The company said: “The market environment in Germany during the first nine months of 2021 was comparatively weak; the jackpot of the European lottery Eurojackpot only reached the €90m mark three times while the mandatory payout market for the Germany lottery Lotto6aus49, set at €45m since September 23, 2020, was not reached at all. Low jackpots have a negative effect on billings, gross margin and new customer acquisition.”
But the company reported gaining 446,000 new registered customers in Germany in the period.
