March 7, 2016
Frankfurt XETRA listed European lottery broker ZEAL Network SE (formerly MyLotto24) has announced that it will write down its venture investment in UK lottery games operator Geonomics Ltd. Updating the market, ZEAL governance detailed that it had reviewed Geonomics growth viability and concluded that it could no longer support its investment in the business. ZEAL’s write down will see the …
Read More »June 12, 2015
The Atlantic Lottery Corporation (ALC), the lottery operator of four Canadian provinces (Nova Scotia, Brunswick, Newfoundland & Prince Edward Island) has been criticised by Canadian politicians and media regarding its $8.7 million investment in UK lottery start-up Geonomics. This week ALC governance had announced that it would write down its investment in Geonomics following the company’s failure to progress UK …
Read More »June 8, 2015
The Atlantic Lottery Corporation (ALC) has announced that it will write down its $8.7 million capital investment in UK lottery games operator Geonomics. ALC confirmed that following a review of its investment in Geonomics, the operating firm of UK based location lottery game GeoLotto, the company had clearly failed to deliver on its projected growth. ALC governance had determined that …
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