This German e-lottery company has reported its revenues to be 885 million euros ($967.7 million), an increase of 16.7% over the previous year.
Lottery revenues particularly grew by 10.8%, reaching 115.4 million euros, attributed to the launch of online games on its platform.
In June 2023, the company introduced slot games on the Lotto24 and Tipp24 brand platforms.
This alone generated revenue of 41.6 million euros and earnings of 39.6 million euros.
Andrea Behrendt, CFO of Lotto24 AG, stated: “In 2023, we further expanded our market leadership and brand recognition. We are proud that the Lotto24 brand has evolved into a true winner's incubator, having a record number of winners last year more than any other lottery provider in Germany.
“Our strong sales and profit performance, along with growth to a market share of 41.4%, indicate that we are on the right path. Moreover, our own product innovations were also well received by customers in the past fiscal year.”
In 2023, Lotto24 attracted 597,000 new customers, a 15% decline from the 703,000 new clients garnered in 2022. Lotto24 explained that this was due to “very poor jackpot situations.”
As for EBITDA, it grew by 28.8% to 33 million euros, while the company expects this year's EBITDA to reach between 40 million and 45 million euros.
As for the crowding-out effect, this request will be submitted to the Lotto24 annual general meeting on August 27.
Currently, Zeal Network holds 95.45% of its shares but has offered minority shareholders a price of 479.25 euros per share.
This amounts to acquiring the remaining shares of Lotto24 for a total of 36.3 million euros, and Zeal has already signed the corresponding loan agreement.
