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ZEAL writes off Geonomics investment, secures Spanish tax refund

4th March 2016 9:08 am GMT

German lottery broker ZEAL Network has said it will write down its investment in location-based lottery developer Geonomics, while at the same time announcing a €9.6m refund from the Spanish Tax Authority.

ZEAL said that it has assessed the viability of Geonomics Global Games and its UK-based Geo24 UK subsidiary and concluded that it no long supports the carrying value of its original investment in the business.

The brokerage acquired a 25.7 per cent stake in Geonomics in December [...]

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