Lotto24: Financial Year 2023 in Figures and Events
Date: 2024-07-18 Author: Robert Beloved Categories: PAYMENT SOLUTIONS
Lotto24, a subsidiary of Zeal Network, presented its annual report for 2023, noting significant growth in revenue from lottery games. Total revenue was €885 million ($967.7 million), up 16.7% from the previous year.
Successful Growth of Lottery Revenue
Revenue from lottery games increased by 10.8%, reaching €115.4 million. This growth is attributed to the successful launch of online gaming on the company's platform, including the introduction of slot games in June 2023 on the Lotto24 and Tipp24 platforms.
Contribution of Innovation to Brand Development
Chief Financial Officer of Lotto24 AG, Andrea Behrendt, emphasized that the company has strengthened its leadership position in the market, making the Lotto24 brand a real symbol of success. Last year, Lotto24 celebrated a record number of winnings, becoming the leading lottery provider in Germany.
Lotto24 added 597,000 new customers in 2023, despite a 15% year-on-year decline due to changes to jackpot terms. The company's market share increased to 41.4%, which indicates stable development and a successful strategy.
EBITDA increased by 28.8%, reaching 33.0 million euros. The company expects EBITDA to be between €40 million and €45 million for the current financial year, confirming Lotto24's sustainability and financial performance.
Zeal Network's Buyout Plans
In light of its successful financial results, Zeal Network has offered to buy out all remaining Lotto24 shares. The shareholders' meeting on August 27 will consider the buyout proposal, which could be an important step in the integration of the two companies.
In a global context, 916 Gaming teamed up with the Virginia Lottery to launch the “Team USA” game, which allows players to compete in the upcoming Olympic Games. This new initiative opens up new perspectives in developing the gaming industry and attracting new audiences.
Lotto24 continues to demonstrate sustainable growth and an innovative approach to developing the lottery business in Germany. Its strong financial performance, strengthening market position and strategic initiatives position it as a key player in the industry, poised for continued growth and success.
