Flag of Germany. Source: iGB

Zeal Network Reports Strong Revenue Growth in Q1

Zeal Network, a German operator, has announced impressive financial results for the first quarter, with revenue reaching €36.1 million, marking a significant increase of 35.2% compared to the same period last year. The company's overall business revenue surged by 36.6% to €34.7 million, with lottery earnings contributing the majority at €32 million.

The online gambling segment also saw growth, generating €2.2 million in revenue. Zeal Network anticipates further revenue expansion following the acquisition of additional licenses for 64 arcades.

During the first quarter, the company welcomed 320,000 new players, representing a remarkable 124% increase from the same period in 2023. Zeal Network is also pursuing plans to acquire all remaining shares of its subsidiary, Lotto24. Through strategic agreements, Zeal aims to increase its ownership stake to 95.45%, enabling it to initiate the transfer of shares from minority shareholders.

12 May 2024, 10:06

Finance Germany

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