Provider of lottery products online to German state and charity lotteries ZEAL Network today announced changes to its Supervisory Board. Kenneth Chan will replace Marc Peters.
Appointment on Interim Basis
The official announcement states that Chan has been appointed by the Hamburg Local Court to the Supervisory Board of ZEAL. This was at the request of both the Executive Board, and Advisory Board.
Chan, the Managing Director at the London-based hedge-fund manager Working Capital, holds a diploma of Yale University. He will be filling the void created by the resignation of ZEAL Peters.
Peters is a member of ZEAL’s Supervisory Board from 2019, when he returned home to the company he co-founded in 1999. Peters was vocal supporter of Lotto24’s combination in 2019, and even wrote a letter to the company in support.
Peter was the Managing Director at Haus & Hof Hamburg before he re-joined ZEAL. He joined Haus & Hof Hamburg in 2012 as a partner at Elbe Venture Capital. Peters was also a member of the Investment and Special Committees at ZEAL.
Chan, a new member of the Supervisory Board, joins Jens Schumann and Thorsten H. Schumann as they serve as board members. Oliver Jaster is the Deputy Chairman.
The Supervisory Board of ZEAL Network has the responsibility of advising and supervising the management board’s work, as well participating in the approval process for key business measures.
Presence of the local lottery market
ZEAL Network was founded in Germany as a lottery broker, under the name Tipp24. In 2005, it went public on Frankfurt Stock Exchange as one the most successful public offerings of its time.
ZEAL Network was established in 2019 by the acquisition of Lotto24 AG. It is now one of the most prominent German lottery providers online. Through its Tipp24 portals and Lotto24 portals, it brokers lottery tickets for state and charity lottery operators.
Tickets from LOTTO 6aus49 and Super 6 Eurojackpot, GlucksSpirale and lottery clubs are available through ZEAL brokers.
ZEAL released a November trading update on its financial performance for the third and first nine months in 2022. It revealed that has seen a 14% increase of revenue from a 10% increase of transaction volume.
