Lottoland considering stock market float at over £1bn

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Lottoland considering stock market float at over £1bn

Online gambling company Lottoland is reportedly considering a stock market float at over £1bn ($1.4bn), according to financial website This Is Money.

The firm — set up in 2013 by German entrepreneur David Von Rosen — is working with investment bank Peel Hunt on a potential London listing. The company is also weighing up a merger with a Special Purpose Acquisition Company (SPAC) as a way of gaining a public exchange listing.

Lottoland launched in the UK in 2016, with the launch fronted by former Who Wants to Be a Millionaire? host Chris Tarrant. It now claims to be one of Europe’s fastest-growing start-ups, with customers placing bets online in a draw of their choice rather than buying physical lottery tickets.

Winnings are paid from the company’s own funds or by insurers, such as Lloyd’s of London. Lottoland in 2018 made headlines for carrying out the world’s largest online gambling payout when it paid out €90m to a customer in Berlin.

Earlier this month, Lottoland announced it had achieved ISO 27001 certification, with CEO Nigel Birrell saying: “We are really pleased to have been awarded our ISO 27001 certificate. It shows how seriously we take our commitment and investment in regards to training, processes and systems, to ensure that we securely manage all of our data.”