Revenue for Zeal Network in Q3 increased by 16 per cent year-on-year to €86m as the group revealed revenue for its online games business for the first time.
The online games division, launched in June this year, posted €1.2m in revenue, with Zeal adding that exploiting the “attractive jackpot phases” in January, March, June and September has led to new customer acquisition and expanded business volume.
Indeed, in the first nine months of the year, Zeal acquired 518,000 new customers, up from 501,000 for the prior-year period.
Group billings grew by 16 per cent to €633.2m in the first nine months of the year, up from €544.4m for the prior-year period.
At 12.5 per cent, the company’s gross margin was close to the 12.8 per cent recorded last year.
Zeal said it expects revenue in the 2023 financial year to be between €110m and €120m, with EBITDA expected to be between €30m and €35m.
