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ZEAL approved to broker lotteries in Germany until 2029

24th May 2022 9:51 am GMT

Frankfurt-listed online lottery provider ZEAL Network has been granted a licence extension to broker lotteries in Germany through its LOTTO24 brand. 

The approval allows LOTTO24 to continue to broker lottery products nationwide beyond 30 June 2022 in accordance with Germany's State Treaty on Gambling (GlüStV), with the new licence expiring on 30 June 2029.

The licence is the first to be awarded under the new State Treaty, which came into force on 1 July 2021, with LOTTO24's previous licence issued in 2017 with an expiry date of 30 June 2022.

“We are pleased about the trust of the federal states” said ZEAL CEO Dr. Helmut Becker. “The licence duration of seven years underlines the company's reliability under administrative law, which has already been proven for ten years.”

Shares in Zeal Network SE (FRA:TIMA) were trading 0.13 per cent lower at €38.30 per share in Frankfurt Tuesday morning.

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