Zeal Network nine-month revenue up 22% to €198.8m as SevenCanyon joins the group
German lottery broker Zeal Network lifted nine-month revenue 22% to €198.8m, helped by the consolidation of UK prize-draw operator SevenCanyon. The company raised its full-year revenue guidance but kept its EBITDA outlook unchanged.
GamblingSource: iGaming Business
Zeal Network SE, the German lottery brokerage, has reported group revenue of €198.8 million ($223.8 million) for the first nine months of 2026, a 22% increase from €162.6 million a year earlier. Growth came from the lottery business and from the first-time consolidation of UK prize-draw operator SevenCanyon.
Group EBITDA climbed 9% to €58.7 million. The result absorbed one-off merger and acquisition costs that the company described as in the mid-single-digit millions of euros. Zeal bought the remaining 96.5% of SevenCanyon on 9 July, and the business appeared in its figures from the third quarter. Over the nine months it added €10.5 million in revenue. Revenue in the Others segment rose 241% to €15.8 million, with segment EBITDA of €2.6 million, of which €1.4 million came from SevenCanyon.
Lottery revenue rose 16% to €170.8 million, while billings grew 10% to €915.1 million. Zeal added more than one million lottery customers, up 15% on the 879,000 recorded in the same period of 2025, and average monthly active lottery users reached 1.678 million versus 1.572 million. Gross margin in lottery improved to 18.3% from 17.5%. Games revenue increased 18% to €12.1 million, with billings up 17% to €160.3 million and monthly active users rising to 35,000 from 28,000. Charity lotteries, including the Dream Car and Dream House raffles, continued to post double-digit growth, with Dream House raffles averaging €9 million in billings per prize event.
The company kept its EBITDA forecast at €70 million to €75 million, which includes expected non-recurring acquisition costs and assumes a normal jackpot environment in Germany. Full-year revenue guidance was raised to €270 million to €280 million from €250 million to €260 million, reflecting the consolidation of SevenCanyon and its presentation under IFRS.
Chief executive Stefan Tweraser said diversification was paying off and reducing exposure to jackpot cycles. CFO Andrea Behrendt said customer growth supported more than €300 million in contributions to public funding and charitable causes in Germany.
Tweraser has described the acquisition as a way into the UK prize-draw market, which currently sits outside traditional lottery regulation. He said he expects the sector to move toward more formal rules and higher standards, which he believes would favour Zeal given its experience in Germany. A voluntary code set up by the Department for Culture, Media and Sport guides operators on player protection and accountability, though it is not legally binding. Tweraser said SevenCanyon was a major proponent of that code.
Based on reporting by iGaming Business.