ZEAL Network has once again increased its full-year 2024 forecasts, attributing this to remarkable jackpot outcomes.
The German-based company announced it had surpassed its yearly revenue and EBITDA targets previously set in November, following a previous upward adjustment.
Originally, ZEAL anticipated its revenue would range from €158 million to €168 million, up from the earlier €140 million to €150 million benchmark, with EBITDA projected to be between €42 million and €46 million, compared to the prior expectation of €38 million to €42 million.
However, the lottery operator has further raised its revenue expectations to between €175 million and €185 million, while projecting EBITDA in the range of €55 million to €59 million.
ZEAL explained that there were an unusually high number of maximum jackpots over the past two months, including the €120 million Eurojackpot being hit seven consecutive times.
This year, jackpots have reached their maximum 13 times, in contrast to just five instances in 2023.
From a financial perspective, ZEAL reported a 41% year-on-year revenue increase to €121 million for the first nine months of 2024.
EBITDA experienced a 51% year-on-year growth to reach €35 million. Meanwhile, the number of active monthly users rose by 17% year-on-year, and the cost per lead decreased by 24% year-on-year to €35.54.
Recently, ZEAL celebrated its 25th anniversary, having been established in 1999 as Tipp24.
Helmut Becker, the CEO of ZEAL, stated: “What started 25 years ago as a two-person operation in Hamburg has evolved into a company group with over 250 employees.
“We are thriving more than ever in our core area of lottery brokerage and are consistently expanding our market presence and business model. We remain committed to our motto: defining the future of the lottery.”
Jens Schumann, ZEAL’s co-founder, added: “When we first started, we printed the lottery tickets our customers played online and submitted them at a local kiosk. Much has changed since then.
“Today, ZEAL ranks among Germany’s leading e-commerce businesses. It’s a joy to have played a significant role in its development.”
The article titled “ZEAL Network Raises 2024 Guidance Following Exceptional Jackpot Developments” initially appeared on EGR Intel.