QuickView: Leveraging lottery expertise
The odds have been against ZEAL over the past six months, with two large winners of the EuroMillions lottery affecting short-term results. However, the underlying secondary lottery business remains highly profitable and cash generative and EBIT has benefited from a change in UK gaming tax rules from December 2014. This enables ZEAL to invest in developing its B2B and B2G businesses to take advantage of new opportunities as lottery markets liberalise and move online. ZEAL’s new dividend policy is to pay out at least €2.80 a year, implying a 2015 yield of over 6%.ZEAL Network focuses on the area of online lottery. Co.'s service offering consists mainly of consumer facing lottery-based games business and the provision of business to business lottery solutions. Co.'s operating segments are: Business-to-Consumer, which comprises the secondary lottery betting business and Instant Win Games products; and Business-to-Business/Business-to-Government, which comprises the remainder of Co.'s key operating activities, including the lottery brokerage business, the international services business for lottery games of the Spanish lottery operator ONCE, and the international business that provides digital services to private business partners and state lotteries.
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