ZEAL Group will close its Spanish lottery brokerage service after an unfavourable Spanish Supreme Court ruling, the company said as it reported rising revenue and profit.
Last month, ZEAL lost a court ruling that said its Ventura24 lottery brokerage service requires a licence from Sociedad Estatal Loterias y Apuestas del Estado (SELAE).
No such licence has been granted before, and “is unlikely to be granted in the future”, ZEAL said.
The news came as ZEAL reported that earnings before interest and tax (EBIT) more than doubled in the first nine months of this year to €29.1m.
Revenue grew 19 percent in the period to €111.2m, and net profit more than doubled to €20.1m, the Frankfurt-listed company said.