Zeal Network SE has been granted a second follow-up licence for its subsidiary LOTTO24 AG by the new State Treaty on Gambling in Germany (GlüStV).
The licence is valid for seven years and expires on June 30, 2029, succeeding the previous licence which expires on June 30, 2022.
Zeal began to broker lottery products across Germany in 2012 and LOTTO24 AG was issued its first follow-up licence on July 26, 2017.
“We are pleased about the trust of the federal states,” said Dr. Helmut Becker, CEO of ZEAL.
“The licence duration of seven years underlines the company’s reliability under administrative law, which has already been proven for ten years.”
It is the first licence issued under the new GlüStV, which came into force on July 1, 2021.
Additionally, it was noted that the separate advertising licence required under the previous State Gambling Treaty is no longer necessary.
Germany’s responsible gambling authority is the Lower Saxony Ministry of the Interior and Sport, which will be replaced by Gemeinsame Glücksspielbehörde der Länder (GGL) on January 1, 2023.
Meanwhile, earlier this month, Zeal reported a “successful” Q1 after growing its total revenue by 11% to €25.1m, as well as recording a “significant” increase in its EBITDA.
