Zeal Network Renews Lottery Permit in Germany
Zeal Network, a German lottery firm, has renewed its permit to operate in Germany. The new permit, valid for seven years until June 30, 2029, enables Zeal’s subsidiary, Lotto24, to keep offering its lottery services across the country. This is the first permit issued under the new German gambling rules, which took effect last year.
Lotto24’s previous permit was set to expire this year, but it has been renewed for the third time. Zeal also mentioned that a separate advertising permit is no longer needed under the new rules.
The authority responsible for gambling will be transferred to the Federal Gambling Agency in Saarland in January 2023. Zeal’s chief executive, Helmut Becker, stated that the company is “pleased to have the confidence of the states” and that the new permit “emphasizes the company’s administrative law dependability.”
The company’s recent announcement of a substantial 101.6% increase in net profit for the initial quarter of its fiscal year 2022, fueled by revenue growth and reduced operational expenses, has led to an enthusiastic renewal of its licensing.
The newly established national agreement permits online slots and table game licenses for the first time, but currently, only Menova, a subsidiary of Gauselmann Group, has received certification. Menova manages the Jackpot Piraten and Bing Bong brands.
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