Online betting operator Lottoland is contemplating a stock market float at more than £1bn and is working with brokers from investment bank Peel Hunt on the potential London listing, according to This is Money.
Lottoland was set up in 2013 with seven employees by German entrepreneur David Von Rosen and launched in the UK in 2016 with the help of former Who Wants To Be A Millionaire? presenter Chris Tarrant. He is not thought to have any other involvement.
The operator has since grown substantially and now claims to be one of Europe’s fastest-growing start-ups with operations across the world, including Australia, Germany and South Africa.
Lottoland allows players to place bets online on a lottery to see if their numbers come up in a draw of their choice rather than buy actual lottery tickets. Winnings are paid directly from the operator’s own funds or are paid out by insurers, such as Lloyd’s of London.
In 2018, the firm hit the headlines when it paid out €90m to a 36-year-old cleaning lady in Berlin which was the world’s largest online gambling payout at the time, according to the Guinness Book of Records.
This is Money also reported that Lottoland is considering a merger with a Special Purpose Acquisition Vehicle (SPAC) as a way to gain a listing on a public exchange. A record number of SPACs floated last year, particularly in the US, and are hunting for multi-billion pound takeover deals.
Last May, Lottoland launched a lottery where 20p of every pound bet is donated to a charity. Earlier this year, it also agreed to a content deal with casino content developer Realistic Games for its slot, table and instant win games.
