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Lotto24, a subsidiary of Zeal Network, has published its annual report for 2023.
The German eLottery company reported €885m ($967.7m) in income, marking a 16.7% increase from the year prior.
The lottery revenue in particular rose 10.8% to €115.4m, which can be attributed to the launch of online games on its platform.
In June 2023, the company launched slot games on both the Lotto24 and Tipp24 branded platforms.
These alone generated €41.6m in income and €39.6m in revenue.
Andrea Behrendt, Lotto24 AG CFO, said: “In 2023, we further expanded our position as market leader and our brand awareness. We are proud of the fact that the Lotto24 brand in particular has developed into a real hotbed of winners, producing more record winners last year than any other lottery provider in Germany.
“Our strong sales and earnings performance and our market share, which has grown to 41.4%, show that we are on the right track.
“In addition, our own product innovations were well received by our customers in the past financial year.”
During 2023, Lotto24 attracted 597,000 new customers, which is a 15% decrease from the 703,000 new customers the brand gained during 2022. Lotto24 explains this being due to “the significantly negative jackpot situation”.
As for EBITDA, this grew 28.8% to €33.0m, while the company expects this year’s EBITDA to reach between €40m-€45m.
As for the squeeze-out, the request is being taken to the Annual General Meeting of Lotto24 on 27 August.
Zeal Network currently owns 95.45% of its shares, but has offered €479.25 per share to the minority shareholders.
This equates to a total of €36.3m to acquire the remaining shares of Lotto24, which Zeal has already signed the corresponding loan agreements for.
Across the pond, 916 Gaming has launched its new game ‘Team USA’ with Virginia Lottery where players can ‘take part’ in the upcoming Olympic Games, either through Archery, Track & Field or Gymnastics.
