Frankfurt-listed online lottery broker Zeal Network has reduced its guidance for its 2017 financial year after a player won approximately €15m in a secondary lottery held by the company's MyLotto24 subsidiary.
The company said that while the pay-out amount falls within the self-retention specified in MyLotto24's hedging instruments, Zeal's revenue and earnings for 2017 would be impacted by the €15m jackpot win.
"While statistical fluctuations are inherent to the secondary lottery business model, MyLotto24 has had prize [...]
