Online gambling company fronted by TV star Chris Tarrant weighing a stockmarket float at more than £1bn
An online gambling company fronted by television star Chris Tarrant is weighing a stockmarket float at more than £1billion.
City sources said Lottoland – which launched in the UK in 2016 with the help of the Who Wants To Be A Millionaire? presenter – is working with brokers from investment bank Peel Hunt on the potential London listing.
Lottoland was set up in 2013 with seven employees by German entrepreneur David Von Rosen.
Frontman: Chris Tarrant promoted fast-growing European start-up Lottoland
The company has grown substantially and now claims to be one of Europe’s fastest growing start-ups with operations across the world, including Australia, Germany and South Africa.
Punters place bets online on Lottoland to see if their numbers come up in a draw of their choice rather than buy actual lottery tickets. The winnings are paid directly from Lottoland’s own funds or are paid out by insurers, such as Lloyd’s of London. The firm hit the headlines in 2018 when it paid out €90million to a 36-year-old cleaning lady in Berlin. It was the world’s largest online gambling payout, according to the Guinness Book of Records.
Tarrant fronted the campaign to launch the branch in 2016 but is not thought to have any other involvement. Sources said that Lottoland is also considering a merger with a Special Purpose Acquisition Vehicle (SPAC) as a way to gain a listing on a public exchange.
A record number of SPACs floated last year, particularly in the US, and are hunting for multi-billion pound takeover deals.
Lottoland recently launched a lottery where 20p of every pound bet is donated to a charity. A spokesperson for the company declined to comment.