(Hamburg, 11 February 2019) Lotto24 AG (Lotto24.de), Germany’s leading online provider of state lotteries, has received a supplement to its existing brokerage permit from the Lower Saxony Ministry of the Interior. The supplement, which Lotto24 applied for on 9 January 2019, enables it to also broker lottery tickets to the state lottery companies via the domains Tipp24.de and Tipp24.com in future. The application was made against the background of a takeover offer being made by ZEAL Network SE (“ZEAL”). The supplement is subject to the restrictions already contained in the brokerage permit as well as the time limit until 30 June 2021, the date on which the current State Treaty on Gaming expires.
“We are delighted to have received the permit and thank all the relevant authorities and the Gambling Council for the rapid processing of our application,” states Petra von Strombeck, CEO of Lotto24 AG. “This is an important step on the way to change ZEAL’s business model from a secondary lottery to a brokerage business permitted in Germany.”
ZEAL’s offer document was published on 31 January 2019 and is available at Zeal-angebot.com. The Executive Board and Supervisory Board of Lotto24 will issue a reasoned opinion on the takeover over pursuant to Section 27 of the German Securities Acquisition and Takeover Act (WpÜG) within two weeks after publication of the offer document and in this connection will also make a statement on the financial adequacy of the consideration offered.
