German online lottery provider Zeal Network has posted a 10 per cent revenue rise to €116.1m for 2023.
Up from €105.2m in 2022, the company’s billings in the lottery sector matched the double-digit revenue growth, rising by 11 per cent to €843.3m.
EBITDA reached a new five-year high of €32.9m, Zeal added.
“Our strong top and bottom-line results and our market share, which has grown to 41.4 per cent, show that we are on the right track,” said Zeal CEO Helmut Becker.
“We are therefore looking to the future with determination and confidence.”
Chief financial officer Sebastian Bielski added that the company’s “successful start” to its online games business, which launched last summer, “clearly shows that we are in a position to successfully develop new business areas.”
Zeal acquired 597,000 customers in the past financial year, up from 703,000 in 2022.
“The decline compared to the previous year can be attributed to the significantly worse jackpot situation,” it said.
