ZEAL Network has agreed to acquire UK prize draw operator SevenCanyon in a deal worth up to £38.6m, as the German lottery brokerage kickstarts international expansion.
ZEAL already owns 3.5% of the business, which operates prize draw brands such as 7days Performance, Redline Competitions and UK Carp Competitions.
The agreement means Zeal will acquire the remaining 96.5% of SevenCanyon for an initial £33.8m, along with an earnout of £4.8m, due to be paid over a period of six months after the deal completes.
ZEAL said the transaction has been mainly financed by a seven-year loan of €40m secured from Deutsche Bank.
Management added that the acquisition would add “high single-digit millions of euros” to EBITDA in the first full financial year post-completion.
ZEAL also said it would be able to scale SevenCanyon thanks to its expertise in “acquisition marketing, monetisation, customer retention, data analytics, regulatory professionalism and platform operations”.
SevenCanyon recorded EBITDA of more than £10m in the 12 months ending March 2026.
As per Companies House filings, in the year ending 31 March 2025, SevenCanyon revenue was £98.3m versus £73.5m for the prior 12 months.
Gross profit for the reporting period was £16.7m, up from £15.4m, while post-tax profit came to £7.2m.
The filings showed an average of 39 employees during the 12-month period, up from 24 the previous year.
The prize draw operator’s platforms offer a series of giveaways, including cars and houses. Cash draws are also available, as well as electronics, cookware and on-site credit.
According to Companies House, SevenCanyon has four British directors: Ross Youngman, Josh Darby, George Sapey and Punit Shah.
Shah, a former Betfred, Betclic and Betfair head, is CEO of 7days Performance. Darby, who had stints with the UK Tote Group and Betfair in the 2000s, serves as 7days Performance’s marketing director.
Consolidation in the UK prize draw sector is a growing trend, with AIM-listed Winvia snapping up several smaller brands.
Stefan Tweraser, ZEAL CEO, said: “SevenCanyon is one of the most successful prize draw operators in the UK – we have known them for years.
“With the acquisition, we hit the ground running in a highly attractive and growing market. We also accelerate the implementation of our strategy to selectively diversify our business model through new products and new markets.”
Andrea Behrendt, ZEAL CFO, added: “SevenCanyon is a highly profitable company with a proven business model.
“The purchase price will mainly be financed through a new loan agreement. This preserves our financial flexibility to continue our growth-oriented and shareholder-friendly capital allocation in the future.”
The post ZEAL Network to acquire UK prize draw business in £38.6m deal first appeared on EGR Intel.
German lottery brokerage giant to snap up remaining shares in SevenCanyon, which runs multiple prize draw platforms in the UK and is led by former Betfair heads
The post ZEAL Network to acquire UK prize draw business in £38.6m deal first appeared on EGR Intel.