Zeal Network

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ZEAL Network SE

logo
legal form Societas Europaea
ISIN DE000ZEAL241
founding 1999
Seat Hamburg , GermanyGermanyGermany 
management
  • Helmut Becker, CEO
Number of employees 124
sales 129.93 million euros (2013)
Branch Online lotteries
Website www.zealnetwork.de
As of December 31, 2013

The ZEAL Network SE (formerly Tipp24 SE) is a company in the field of online lotteries .

former logo

The London- based company was founded in September 1999 by Jens Schumann and Marc Peters and until the end of 2008 brokered state-licensed and guaranteed gaming products via electronic media, especially the Internet. Tipp24 holds stakes in companies in Spain and Great Britain that enable participation in games of chance from the lottery sector over the Internet. The company has been listed in the Frankfurt Prime Standard segment since 2005 and has been trading as a European stock corporation since December 2009.

history

Tipp24 was founded in 1999 and financed with risk capital from Earlybird Venture Capital . Since the beginning of 2000, the company has been arranging participation in almost all state lottery games over the Internet. Break even was achieved in 2002 and in 2003 for the first time more than 100 million euros in transaction volume. From 2004 onwards, partnerships with portals such as web.de and gmx.de were entered into. In 2005 RTLtipp.de and lotterie.t-online.de were added as additional partners .

On 12 October 2005, was made public offering of stock company with an issue price of 20.50 euros with revenues of 40.1 million euros.

As a result of the State Treaty on Gaming that came into force on January 1, 2008, Tipp24 had to cease its brokerage activities temporarily on January 1, 2009 until the legal situation was clarified. As of September 30, 2008, the company stated that it had 2.422 million customers and by the end of March 2009 employed 154 people, of which 139 had to be laid off at the end of March 2009. However, these were continued to work in three specially founded Hamburg service companies. Tipp24 then expanded its business in other European countries.

In the course of the adjustment, assets that were no longer required were transferred to MyLotto24 Limited and its subsidiaries, which had been operating in Great Britain since 2007. In addition, in the second quarter of 2009, the British part of the group was socialized . A share of 60% was sold to a Swiss foundation , the Fondation enfance sans frontières. These shares come with a guaranteed limited right to dividends of £ 30,000 p. a. fitted. The inclusion of the investment in MyLotto24 Limited, including its subsidiaries and investments, in the consolidated financial statements is based on the economic assessment of the circumstances, according to which the main opportunities and risks lie with Tipp24 SE. Due to the structure required by the State Treaty on Gambling, the profits generated by the Tipp24 Group can no longer be used for sport, the general promotion of welfare maintenance tasks, for promotion in the field of art and culture as well as for environmental protection and other purposes of the common good, but remain as a profit in a private company. With the establishment of the foundation, however, recognized non-profit institutions that are active in the field of protection and promotion of children and young people are to be supported.

Since January 8, 2009, the website www.tipp24.com, operated by the minority shareholding Tipp24 Services Ltd. based in England, game orders to MyLotto24 Ltd., also based in England. mediated, which operates its own private lottery there and for this purpose takes over the official winning numbers and odds of the German lotto and toto block . (An image of the German Lotto, a so-called second lottery on the outcome of the German Lotto.) Correspondingly, bets are offered on the results of the German Lotto; there is no real participation with a state guarantee of the winnings achieved.

In 2009 it came to the merger of Egela Beteiligungsverwaltungs AG to Tipp24 AG. As a result, the stock corporation was converted into a European stock corporation (Societas Europaea, SE) at the end of 2009 .

After the new gaming law came into force in Schleswig-Holstein, online brokerage activities there with the subsidiary Lotto24 AG (previously Tipp24 Deutschland GmbH) were resumed in January 2012. Other federal states followed later. In July 2012, Lotto24 AG was floated on the stock exchange and successfully separated from Tipp24 SE by spin-off . The German online lottery brokerage business is now operated by Lotto24 at www.lotto24.de.

According to its CFO Andreas Keil, Tipp24 SE is now striving to acquire its own gaming licenses in addition to the remaining investment business so that the company can also organize lotteries itself in the medium to long term. In addition, the establishment of a new international business area of ​​internet services for lottery organizers is currently being pushed ahead.

On June 28, 2013, the company announced that it would relocate its headquarters from Hamburg to London , after the Annual General Meeting had approved the relocation with a 97.4 percent majority and the German business had already been spun off as Lotto24. Instead, Tipp24 wants to concentrate on the markets in Great Britain , Spain and the USA . Strict gaming laws in Germany prompted the company to take this step. However, the listing on the Frankfurt Stock Exchange is to be retained. With the entry in the English commercial register on February 7, 2014, the relocation of the registered office was completed.

In October 2014 it was announced that Tipp24 would like to operate as ZEAL Network in the future. The implementation was decided at an extraordinary general meeting on November 19, 2014.

In June 2017, Zeal Network was removed from the SDAX index, to which the share had belonged since 2009, due to insufficient market capitalization . However, it was able to return to the index on May 8, 2020.

Due to "regulatory risks" in Germany for secondary lotteries, Zeal Network announced the takeover of Lotto24 AG in November 2018. As a result, Tipp24 will again receive an official gaming license for brokering lottery products in Germany. The shareholders approved the agreement at the end of January 2019.

Payouts of winnings

In contrast to state-licensed providers, there is no state guarantee of the profits achieved. According to the General Terms and Conditions, the odds are guaranteed to be paid out in the same way as for the German Lotto and Toto blocks, with the exception of prize class 1 ( jackpot ). The winnings in prize class 1 may be lower, because in this highest prize class the winnings are not only based on the number of winners in the German lottery and toto block, but also in the case of multiple winners through the winners of the private operator MyLotto24 Ltd. is shared. In addition, Tipp24 limits liability in the general terms and conditions.

Products

Business activity in Germany up to and including 2008 included the online brokerage of state lotteries. In the financial years 2009 to 2012, Tipp24 fought legally for the resumption of business in Germany and operated the skill-based games segment and the class lottery segment . The class lotteries were processed on the basis of a cooperation agreement with Schumann e. K., which exists as sole owner with the former board member Jens Schumann. In the meantime, the German business has been spun off as Lotto24 AG.

Whether the German users of Tipp24 make themselves liable to prosecution within the meaning of the StGB is controversial.

There is no entitlement to payment under German civil law.

Web links

Individual evidence

  1. ↑ Imprint. In: zealnetwork.de. Retrieved May 11, 2020 .
  2. ^ Zeal Network Imprint. In: www.zealnetwork.de. Retrieved December 19, 2019 .
  3. ↑ a b Tipp24 SE: Annual Report 2013 (PDF) Retrieved on May 23, 2014 .
  4. ↑ deutsche-startups.de
  5. ↑ OVB Holding and Tipp24 are included in SDAX
  6. ↑ Tipp24: Hamburg employees outsourced to 3 service companies in 2009 (board member: Hans Cornehl) - tipp24blog.wordpress.com
  7. ↑ Tipp24 fires 90 percent of its employees ( memento from February 6, 2013 in the web archive archive.today )
  8. ↑ Annual Report 2011 (PDF; 1.1 MB)
  9. ↑ Fondation enfance sans frontières
  10. ↑ a b State Treaty on Gaming in Germany (State Treaty on Gaming - GlüStV) [1]
  11. ↑ Press release of January 5, 2010: Tipp24 - Conversion into SE completed
  12. ↑ Tipp24 SE company website ( Memento from April 16, 2010 in the Internet Archive )
  13. ↑ Lotto24 company website
  14. ↑ Finanznachrichten.de: Interview with CFO Andreas Keil, accessed on August 29, 2013
  15. ↑ n-tv: Escape from strict gambling rules: Tipp24 moves to London. June 29, 2013, accessed July 6, 2014 .
  16. ↑ General meeting of Tipp24 SE resolves to relocate its headquarters to Great Britain. Tipp24 SE, June 28, 2013, archived from the original on July 21, 2013 ; accessed on March 25, 2019 .
  17. ↑ DGAP: DGAP-News: Tipp24 SE: Internationalization pursued consistently in the 2013 financial year. March 26, 2014, accessed July 6, 2014 .
  18. ↑ 'To create a better world of lottery': Tipp24 SE becomes ZEAL Network SE. In: www.dgap.de. Retrieved March 25, 2019 .
  19. ↑ Grand City Properties replaces Zeal Network in the SDax. In: Börse Online . June 7, 2017. Retrieved March 25, 2019 .
  20. ↑ Lotto market: Online provider Tipp24 takes over Lotto24. Retrieved May 3, 2019 .
  21. ^ Zeal Network. Retrieved May 3, 2019 .
  22. ^ Zeal Network. Retrieved May 3, 2019 .
  23. ↑ domestic segment Tipp24