Zeal reported €188.2 million in revenue in 2024, a 62.2% rise from the year before, indicating tremendous financial development. This amount exceeded the €150.0 million that the corporation had first projected. The findings, which were released on March 26, show that the business can surpass expectations.
Zeal’s lottery branch was the main force behind this expansion. Revenue from it increased by 59.3% to €168.3 million. Due in large part to the Eurojackpot reaching its highest value for 13 draws, the business attributed this growth to the “positive” jackpot environment. Zeal also increased player involvement by introducing the ‘Traumhausverlosung’ draw, which offered a dream house as the winner.
Active customer numbers climbed by 25.0%, reaching 1.4 million. Average revenue per active customer also grew by 27.2%. Players won €876.8 million in prizes, and billings from lotteries exceeded €1 billion for the first time, representing a 28.0% increase.
Online Gaming Sees Significant Expansion
Zeal’s online gaming division, launched in Germany in mid-2023 through Lotto24 and Tipp24, also contributed to the company’s impressive results. Despite its relatively recent introduction, online gaming revenue surged to €9.9 million in 2024, reflecting a massive 224.1% rise.
Player activity remained strong, with year-over-year growth in active users and average revenue per customer. Total billings reached €133.1 million, a 220.0% increase. Players also won €28.7 million from the platform’s offerings.
Zeal significantly expanded its marketing efforts, with spending climbing 58.0% to €56.9 million. This aggressive approach helped the company acquire a record 1.3 million new customers — more than double the previous year.
Operating expenses increased by 53.3% to €129.4 million. However, Zeal’s EBITDA reached €61.9 million, reflecting an 88.0% increase. After accounting for amortization, depreciation, and interest, the company reported a pre-tax profit of €50.3 million, a 125.3% rise. Net profit jumped by 333.2% to €59.4 million.
CEO Helmut Becker, who announced his decision to step down, expressed pride in the company’s achievements. “In our anniversary year 2024, we achieved a record triple in our business development in terms of new customers, revenue and EBITD,” said Becker. He further emphasized Zeal’s pioneering role in the German market, particularly with the launch of the ‘Traumhausverlosung.’
Becker will remain CEO until January 31, 2025, concluding a decade-long tenure.
Looking ahead, Zeal expects to generate revenue between €195.0 million and €205.0 million in 2025. While this would reflect moderate growth of 6.3% at the midpoint, EBITDA is projected to decline, with estimates ranging from €55.0 million to €60.0 million — potentially 7.1% lower than in 2024.
The company also plans to raise its marketing budget to between €60.0 million and €70.0 million, focusing on expanding its presence in Germany.
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