German online lottery giant Zeal Network SE announced its financial report for the first half of 2025, with group revenue soaring by 32% year-on-year, reaching 101.5 million euros. Despite rising operating costs, the company's EBITDA surged by 76% to 35.4 million euros, demonstrating strong profitability.
The growth in revenue mainly came from the lottery business, with income increasing by 34% year-on-year to 91 million euros. Although the popular jackpots such as LOTTO 6aus49 and Eurojackpot saw a slight decline in prizes, Zeal's lottery sales still grew by 4%, with total betting amount reaching 527.3 million euros. The gaming business was also impressive, with revenue increasing by 49% to 6.7 million euros, benefiting from the expansion of the product portfolio to more than 480 types.
In terms of users, active users reached 1.515 million, a year-on-year increase of 12%; although new users slightly decreased to 499,000, user retention and conversion performance remained robust. Despite the rise in customer acquisition cost to 46.93 euros per lead, the gross margin increased by 3.8 percentage points to 17.3%, reflecting the sustainability of the business model.
In addition, Zeal's joint investment with French FDJ in Swedish iLottery operator Random State demonstrates its ambition to expand into international markets and innovate. The newly appointed CEO Stefan Tweraser also took office recently, injecting new momentum for growth in the second half of the year.
