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Zeal Network sees profit slide as first quarter revenue drops 48%

14th May 2020 12:52 pm GMT
SBTech

Frankfurt-listed online lottery provider Zeal Network has reported a 48 per cent drop in revenue to €19m for the first quarter of 2020.

The company said that the revenue decline was due to expected revenue dis-synergies in connection with its recent business model change. This meant that the comparable period’s results included the secondary lottery business which was discontinued last October, while Lotto24’s online lottery brokerage business was not included.

Overall, total billings were up 108 per [...]

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