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Zeal Network Retakes Control of its Former Subsidiary Tipp24

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5 years ago

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Zeal Network Retakes Control of its Former Subsidiary Tipp24
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Lottery brokerage firm Zeal Network has retaken the control of its former subsidiary Tipp24.

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.

“We have fully implemented what we announced; as of today, Lotto24 and Tipp24 are reunited in the German brokerage business. 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,” Helmut Becker, chief executive of Zeal said.

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