Frankfurt-listed lottery provider ZEAL Network has raised its earnings guidance for the full year by €9.0m after benefiting from the late discontinuation of its secondary lottery business.
The company expects 2019 EBITDA to be in the range of €27m to €30m, ahead of its previous estimate of between €18m and €21m but still significantly below last year’s EBITDA of €48m.
ZEAL said that the recent change to its business model from a secondary lottery business to an online lottery broker occurred on [...]
