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StocksMediumUpdated×2•Originally published 4 November 2026•Updated 4 November 2026•
3 min read

ZEAL Revenue Rises 22% to €198.8 Million in First Nine Months

Key Facts

1ZEAL revenue was €198.8 million in the first nine months of 2026, up 22% from the same period a year earlier.
2Group EBITDA rose 9% to €58.7 million in the first nine months of 2026.
3Lottery business revenue rose 16% to €170.8 million, while billings increased 10% to €915.1 million.
4SevenCanyon added €10.5 million in third-quarter revenue and contributed €1.4 million to EBITDA in the other activities segment.
5ZEAL kept its 2026 EBITDA forecast at €70–75 million.

ZEAL Network reported group revenue of €198.8 million in the first nine months of 2026, up 22% year over year from €162.6 million in the same period of 2025, according to a company statement. The results included the British SevenCanyon business for the first time in the third quarter, expanding the group’s operations. ZEAL said lottery brokerage remained its main growth driver, while the acquired company added new revenue during the quarter. Group EBITDA rose 9% to €58.7 million from €54.1 million a year earlier. The company said the improvement came despite one-off expenses related to the acquisition.

Lottery brokerage remained the largest source of revenue, with revenue rising 16% to €170.8 million in the first nine months of 2026. Lottery billings, the value of sales recorded by the business, increased 10% to €915.1 million over the same period. ZEAL said the lottery business “continues to be the main growth driver” for the group, linking revenue expansion to the continued strength of this core activity. The segment’s 16% revenue growth compares with a 22% increase in group revenue, reflecting contributions from activities beyond lotteries. These figures cover January to September, not the third quarter alone.

In the third quarter, British prize-draw business SevenCanyon was consolidated into the group’s results for the first time, contributing €10.5 million in revenue. The company contributed about €1.4 million to EBITDA in the “other activities” segment, which recorded total EBITDA of €2.6 million for the quarter. The figures show that SevenCanyon added revenue and operating profit from the start of its consolidation, as ZEAL expanded beyond its traditional lottery business. ZEAL announced on July 9, 2026, that it had bought the remaining 96.5% stake in the British company. The announced price included a cash payment of about £33.8 million, plus conditional payments of up to about £4.8 million over six months.

ZEAL kept its 2026 EBITDA forecast at €70–75 million, according to its nine-month results statement. The company said the forecast assumes a normal environment for major lottery jackpots in Germany and includes one-off acquisition costs in the single-digit millions of euros. In its previous guidance, ZEAL forecast revenue of €250–260 million for the 2026 financial year, based on an assumption of average jackpot development. In 2025, group revenue was €218.5 million, up 16% from €188.2 million in 2024, while EBITDA reached €68.8 million. Those annual results provide context for comparing revenue and profitability growth in 2026 with the previous year’s performance.

ZEAL invited investors, analysts and journalists to a call on its nine-month results on November 4, 2026, at 10:00 a.m. Central European Time. The company’s financial calendar also lists an analyst conference in Frankfurt on November 24, 2026. Both events follow the release of results showing growth in revenue and EBITDA, along with an initial contribution from SevenCanyon after its consolidation in the third quarter. The results call is scheduled as the company’s next opportunity to present its nine-month results to invited participants. The calendar then lists the Frankfurt analyst conference later that month.