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Lotto24 widens net loss as marketing expenses soar in H1

8th August 2014 7:52 am GMT

German online lottery brokerage Lotto24 has posted a net loss of €7.5m for the first half of 2014, with the company’s results burdened by high advertising costs and an increase in operating expenses.

Lotto24 said that despite a “more challenging” market environment compared to last year, the company succeeded in stabilising and improving its results with revenue soaring 411 per cent to €3.4m, from total billings of €36.7m.

At the end of the period, the company had [...]

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