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ZEAL starts with 35 percent revenue growth into the year 2024
ZEAL Network SE, the leading German online provider of lottery products, has started the new financial year with a strong growth spurt. In the first quarter of 2024, billings from lotteries climbed by 22% to € 246.3 million. Group revenue increased by 35.0% to € 36.1 million (2023: € 26.7 million). EBITDA at Group level increased slightly by 1% to € 9.4 million due to one-off effects and the almost doubling of marketing expenses compared to the previous year.
“We made a very strong start to 2024 and were able to significantly accelerate our revenue growth, particularly in our core business of lottery brokerage. We are also particularly proud of the fact that we were able to achieve EBITDA slightly above the previous year’s level in the past quarter despite almost doubling our marketing expenses and a negative one-off effect from a major win in our charity lottery Deutsche Traumhauslotterie amounting to € 0.8 million. This shows that our measures to acquire new customers are paying off very quickly and that we are generating income across the entire breadth of our customer base,” says Sebastian Bielski, CFO of ZEAL. “With the announced squeeze-out at LOTTO24, we are also putting ZEAL in the best possible position for the future and are leveraging further efficiency potential.”
Revenue in core business grows by 28 percent
ZEAL’s significant revenue growth in the first quarter is primarily due to the strong performance of the lottery business. Billings increased by 22% to € 246.3 million, while revenue from lotteries rose by as much as 28% to € 32.0 million (2023: € 24.9 million). The growth in billings is primarily due to the 21% increase in the average number of active customers per month (MAU). ZEAL was also able to improve the gross margin in the lottery business to 13.0% (2023: 12.4%) thanks to a change in the product mix and further margin optimizations. Excluding the one-off effect from the distribution of a major prize in the company’s charity lottery Deutsche Traumhauslotterie, the gross margin would have been as high as 13.3%.
Games business with significant revenue growth compared to Q4 2023
The games business, which was launched last year, also developed very positively in the first three months of the year. Compared to the fourth quarter of last year, ZEAL was able to increase revenue from games by around 20% from € 1.8 million to € 2.2 million. At 7.0%, the gross margin was stable compared to the previous quarters.
ZEAL was also able to further expand its games portfolio at the end of the quarter. The subsidiary LOTTO24 AG received permission to offer a further 64 games.
Stable result thanks to efficient expansion of future earnings base
ZEAL invested heavily in future growth in the past quarter, acquiring more than twice as many new customers (320 thousand) as in the same period of the previous year (2023: 143 thousand). The company achieved this customer growth much more efficiently than in the same period of the previous year. At € 33.04, the acquisition costs per registered new customer (cost per lead, CPL) were noticeably lower than in the previous year (2023: € 36.77). Due to the company’s strategic decision to use the exceptionally good jackpot situation in January 2024 for efficient new customer growth, marketing expenses of € 13.4 million were 91% higher than in the same period of the previous year (2023: € 7.0 million). As a result, other operating expenses rose to € 21.0 million (2023: € 12.5 million). As a result of the increased number of new customers and the growth of the games business, the direct costs of business operations also rose to € 4.0 million (2023: € 2.7 million).
At € 9.4 million, EBITDA was slightly higher than in the first quarter of the previous year (2023: € 9.3 million). At € 7.5 million, EBIT was 6% higher than in the same period of the previous year (2023: € 7.1 million) due to lower depreciation and amortization recognized in profit or loss. Net income for the period rose to € 21.1 million (2023: € 4.7 million) due to the first-time recognition of expected tax benefits from the utilization of existing tax loss carryforwards in connection with the LOTTO24 squeeze-out.
Due to the good results of the first quarter of 2024, ZEAL confirms the forecast published on March 20, 2024.
The post ZEAL starts with 35 percent revenue growth into the year 2024 appeared first on European Gaming Industry News.

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Relum Appoints New Head of International Relations to Strengthen Global Presence
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Relum has welcomed a new Head of International Relations to guide its global strategy and strengthen the company’s international presence.
Relum, an advanced casino engine provider, is proud to announce the appointment of Anna Kiselova as its new Head of International Relations. With over five years of experience in the iGaming industry, including key leadership positions, Anna brings extensive expertise in building strategic partnerships and advancing global collaborations.
In her new role, Anna will focus on expanding Relum’s international presence, strengthening relationships with partners, and supporting the company’s growth strategy across multiple markets.
Anna Kiselova, the newly appointed Head of International Relations at Relum, commented: “I’m genuinely excited to join Relum and contribute to something that feels dynamic and full of possibility. In my new role, I want to focus on partnerships that go beyond transactions – relationships built on trust, openness, and shared goals. I believe that’s the foundation of meaningful, sustainable growth, and I look forward to seeing what we can achieve together.”
Edmond Ghulyan, Chief Executive Officer at Relum, added: “We are proud to welcome Anna Kiselova to our leadership team. Her appointment marks a significant step in Relum’s international growth journey. Anna’s strategic perspective and extensive industry experience will help us deepen partnerships, explore new opportunities, and strengthen Relum’s standing as a trusted global technology provider.”
This appointment underscores Relum’s commitment to expanding its international footprint and building a stronger, more connected network of partners through innovation and collaboration.
The post Relum Appoints New Head of International Relations to Strengthen Global Presence appeared first on European Gaming Industry News.
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EEGS Webinar on Engaging Gen Z – Insights from Ana D’Arrigo
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On October 15th, EEGS hosted a dynamic webinar titled “Winning over Gen Z: How to Engage the Next Generation of Players”, featuring renowned speaker Ana D’Arrigo. This session marked the first webinar since the summer break and was highly anticipated.
The webinar was a practical, experience-based discussion, enriched with real-world examples from leading companies. Ana shared valuable insights drawn from her personal experience, offering attendees actionable strategies to connect with the elusive Gen Z audience.
The session commenced with a thorough exploration of “Who are Gen Z?” – the first digital natives, highly tech-savvy, and increasingly challenging to target through traditional marketing. Ana highlighted that Gen Z-ers are distinct: they prioritize authenticity, lead with purpose, express themselves creatively, value transparency, are entrepreneurial, and driven by their values. Despite having short attention spans, they engage deeply when content resonates with them.
A key takeaway from the webinar was the shift needed in marketing approaches: “To win Gen Z, stop marketing to them – start creating with them,” a powerful insight echoed by ChatGPT and emphasized by Ana. Instead of mass marketing, personalized, authentic content that involves Gen Z in the creation process is essential.
Further, Ana discussed the future of marketing to Gen Z, emphasizing ongoing engagement and authenticity. She actively engaged with the audience, responding to intriguing questions and fostering a lively discussion.
If you’ve missed the session don’t worry! You can watch it on demand now HERE
The post EEGS Webinar on Engaging Gen Z – Insights from Ana D’Arrigo appeared first on European Gaming Industry News.
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ELA Games in Rome: Studio to Showcase New Titles & Plans at the SiGMA Europe Summit
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ELA Games is set to attend the SiGMA Europe Summit in Rome from 3 – 6 November. The event gathers global iGaming leaders to discuss innovations, future technologies, and rising companies.
Representing ELA Games will be:
- Yaroslav Soloshenko, Head of Business Development
- Peter Vonarshenko, Senior Business Development Manager
They will reveal the studio’s latest titles, such as the festive Witches’ Book, high-energy Piñatas Festival, and highly successful Buffalo Force, which experienced record growth statistics. Additionally, attendees will get a sneak peek into ELA Games’ upcoming title, Riches Express (30 October release), and other forthcoming plans.
Yaroslav and Peter will also unveil exciting new expansion plans in Greece and what that means for the studio’s future content developments.
Special Panel Appearance
On 4 November (11:30 – 12:10, Stage 3 | Affiliate Leaders), Yaroslav Soloshenko will take part in a special panel discussion titled “Battle for the Bottom Line: Does Product or Marketing Drive Growth?”
The session will bring together leading industry experts, from star streamers to product innovators, to explore the strategies that fuel player acquisition, retention, and revenue. Yaroslav will share his insights on ELA Games’ multifaceted approach to growth, including strategic game development and relevant marketing.
Yaroslav commented, “The conversation around strong product development versus marketing is always evolving. For ELA Games, true growth happens when the two work together. A great product generates stories and memories worth sharing, which is what we try to revolve our marketing strategies around. I look forward to sharing more in-depth insights at my panel discussion at the SiGMA Europe Summit.”
Meet ELA Games in Rome
Attendees can book a 1-on-1 meeting with Yaroslav and Peter to learn more about how diverse content can boost operator growth and keep players engaged for longer.
ELA Games’ standout titles, such as Buffalo Force, have been a driving growth factor, experiencing record engagement metrics in just 3 weeks. Operators can explore the studio’s diverse and ever-growing portfolio to discover more highly engaging content that players love.
Join the team at the SiGMA Europe Summit in Rome from 3 – 6 November.
Secure a meeting now — limited slots available!
The post ELA Games in Rome: Studio to Showcase New Titles & Plans at the SiGMA Europe Summit appeared first on European Gaming Industry News.
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