DigiDis, a Spanish lottery service provider, has announced its profitability is on the rise due to the spread of online lottery in Spain.
The company, in which Jaxx A.G. holds a 70 percent stake, attributes the success to new partnerships and sales channels. According to prepared statement, Stefan Haenel, finance director of Jaxx, expected DigiDis to reach profitability by 2008 financial year. Now the group might post a profit of more than 500,000 euros, and the volume of the lottery agency business is anticipated to double to 30 million euros in 2009.
In the statement, Sascha Badelt, managing director of Madrid-based DigiDis, said the company expects to reach Spain’s entire Internet community this year with its lottery products.
“Our business success in Spain is emerging as a key strategic factor,” Mr. Haenel said. “Whereas lottery agency business in Germany has been paralyzed by the regulatory debate raging there, we are exporting our systems and business models profitably to other European markets.”
Mr. Haenel added that Jaxx expects business in Spain will go a long way toward compensating for the expected sales downturn in Germany.