London-listed lottery brokerage Zeal Network has retaken control of its former subsidiary Tipp24 and added the business to its German secondary lottery arm.
Gambling company Lottoland said it was ready to offer up to 76 million euros ($87.6 million) for German lottery business Tipp24 to try to thwart the restructuring plans of Tipp24 owner Zeal Network. TIPP10 is a free touch typing tutor for Windows, Mac OS and Linux. The ingenious thing about the software is its intelligence feature. Characters that are mistyped are repeated more frequently. Beginners will find their way around right away so they can start practicing without a hitch.
- At the company's stock market floatation in October 2005, its shares were oversubscribed more than 15-fold. With the sale of its remaining stake in Tipp24 in October 2007, Earlybird recouped more than 20 times its original investment.
- 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.
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,” 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.
Tipp24.com
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.