DGAP-News: Lotto24 AG receives permit for online lottery brokerage
(firmenpresse) - DGAP-News: Lotto24 AG / Key word(s): Regulatory Approval
Lotto24 AG receives permit for online lottery brokerage
24.09.2012 / 21:15
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Press release
Lotto24 AG receives permit for online lottery brokerage
(Hamburg, 24 September 2012) Lotto24 AG is one of the first private
companies in Germany to receive a permit allowing it to broker state-run
lotteries via the Internet.
Petra von Strombeck, CEO of Lotto24 AG, states: 'The permit is a
prerequisite for nationwide operations and thus a very important milestone
in our short company history.'
After an almost four-year ban of online brokerage under the old State
Treaty on Games of Chance, private companies are now permitted to broker
state-run lotteries in Germany once again.
The permit is valid for the whole of Germany for a period of five years,
excluding the states of North-Rhine Westphalia and Schleswig-Holstein. The
new 'First State Treaty to Revise the State Treaty on Games of Chance'
(GlüÄndStV) has not been ratified in North-Rhine Westphalia yet. Gaming
legislation in Schleswig-Holstein differs from the rest of Germany, in that
lotteries can be brokered online without permission.
The newly granted permit includes provisions which will hamper the
development of business, especially the restrictive requirements regarding
the protection of minors and an obligation to submit tickets in the federal
state of the respective player. The company expects these restrictions to
apply equally to other market participants.
Further official permits are required for advertising Lotto24's product
range. It is expected that nationwide Internet and TV advertising will not
be possible until the GlüÄndStV comes into effect in North-Rhine
Westphalia. The company assumes that this will be the case in the course of
November 2012.
As soon as the conditions for online brokerage stipulated in the provisions
have been met and the necessary online interfaces for brokerage are
available in the respective federal states, Lotto24 will expand its
activities to the whole of Germany as quickly as possible.
About Lotto24 AG: Lotto24 AG (formerly Tipp24 Deutschland GmbH) was founded
by Tipp24 SE in 2010 in order to resume the commercial online brokerage of
games of chance in Germany. Following the successful spin-off from its
parent company, Lotto24 AG has been listed as an independent company in the
Prime Standard segment of the Frankfurt Stock Exchange since 3 July 2012.
Lotto24 AG focuses on brokering state-licensed lottery products, such as
'Lotto 6aus49', 'Spiel 77', 'Super 6', 'EuroJackpot' and 'Glücksspirale'
via the Internet (www.lotto24.de). Lotto24 enters into gaming contracts
with the respective lottery companies on behalf of and in the name of the
game participant. Lotto24 aims to become Germany's leading online broker of
lottery products.
Press contact:
Lotto24 AG
Frank Schwarz
Tel.: +49 (0) 611 / 1745 398 0
E-mail: ir(at)lotto24.de
Internet: www.lotto24-ag.de
End of Corporate News
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24.09.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Lotto24 AG
Neuer Wall 63
20354 Hamburg
Germany
Phone: +49 (0)40 8 222 39 0
Fax: +49 (0)40 8 222 39 70
E-mail: ir(at)lotto24.de
Internet: www.lotto24-ag.de
ISIN: DE000LTT0243
WKN: LTT024
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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186276 24.09.2012
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Datum: 24.09.2012 - 21:15 Uhr
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News-ID 186185
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