Germany’s largest private digital Lottery broker, Zeal Network and Lotto24 are to merge having confirmed the companies have entered into a business combination agreement.
In a statement, the two companies stressed their commitments to working together to “obtain the necessary gambling regulatory appeals, realise synergies and pursue growth and value creating opportunities.”
The transaction will create a company with current total of more than five million customers globally, billing of around €500m and a diverse international footprint.
Dr. Helmut Becker, said: “This transaction will reunite the zeal with Lotto24 and put us in an extremely strong position to accelerate online growth in the German and international Lottery Markets.
” The BCA recognises the strategic rationale of this transaction and value it creates for the shareholders of both companies, the customer and the german federal states and their Lottery beneficiaries.” said Becker.
“I look forward to join forces with Lotto24, building on each other’s strengths and driving growth in Germany and beyond.”