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ZEAL Network expects full year revenue to drop to €113.5m

20th February 2020 9:15 am GMT

Frankfurt-listed lottery provider ZEAL Network has reported a 27 per cent drop in preliminary revenue to €113.5m for 2019, with results impacted by a €26.3m payout from its former secondary lottery business and its change in business model.

Total billings increased by 58 per cent to €466.7m following its takeover of Lotto24 during the year, with the company’s German business gaining 274,000 new registered customers at a cost per lead of €32.50.

ZEAL was able to further reduce its cost base in [...]

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