German online lottery broker Lotto24 has reported revenue of €5.3m for the nine month period ended September 30th, but incurred a net loss of €11.5m during the period as a result of higher advertising activities and an increase in operating expenses.

The company benefited from a strong third quarter performance, during which it launched a major TV campaign in parallel with its existing online advertising, aimed at optimising its iOS app and raising the number of mobile users.

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