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ZEAL achieves growth of more than 40 percent in revenue and earnings in the first half of 2024
ZEAL Network SE, the leading German online provider of lottery products, continued its strong growth path in the first half of 2024 with strong growth in revenue and EBITDA. Group revenue increased by 40 percent and reached € 76.8 million (2023: € 54.8 million). EBITDA increased even more strongly by 46 percent to € 20.1 million (2023: € 13.8 million).
“The very strong development of revenue and EBITDA reflects our excellent operating performance. We are particularly pleased that we have been able to acquire over half a million new customers since the beginning of the year. The acquisition of new customers has not only been exceptionally successful this half year, but also particularly efficient thanks to the significant reduction in acquisition costs per registered new customer. We are thus benefiting from the continuous investment in brand development in recent years,” says Sebastian Bielski, CFO of ZEAL.
Revenue in core business grows by 33 percent
ZEAL’s significant revenue growth in the first half of the year is primarily due to the strong development of the lottery business. Here, billings increased by 23 percent to €507.1 million, while revenue rose by as much as 33 percent to €68.0 million (2023: €51.2 million). The strong increase in billings is due to the 21 percent increase in the average number of active customers (1,353 thousand) and the 2 percent increase in the average billings per active user to € 62.48. In addition, ZEAL improved the gross margin in the lottery business to 13.4 percent (2023: 12.5 percent) thanks to a change in the product mix and further margin optimizations.
The games business, which was launched in June 2023, continued to develop positively in the second quarter of 2024 compared to the first quarter with solid revenue growth and a higher gross margin.
Strong result thanks to significant customer growth and lower acquisition costs
ZEAL once again significantly expanded its customer base in the first half of 2024 in a generally favorable jackpot situation. The number of registered new customers rose by 70 percent to 592 thousand (2023: 349 thousand), the second-highest figure in ZEAL’s history. Acquisition costs per registered new customer (cost per lead, CPL) fell by 26 percent year-on-year to € 33.20 (2023: € 45.09). Due to the company’s strategic decision to use the good jackpot situation in the first half of the year to accelerate customer growth, marketing expenses increased by 28 percent year-on-year to € 25.5 million (2023: € 20.0 million). Due to the high number of new customers and the growth in the games business, direct operating costs also increased to € 8.6 million (2023: € 5.4 million), while other operating expenses rose to € 42.8 million (2023: € 31.6 million).
At € 20.1 million, EBITDA was 46 percent higher than in the same period of the previous year (2023: € 13.8 million) due to the significant growth in sales and improved cost efficiency compared to the previous year. At € 16.1 million, EBIT even exceeded the previous year’s figure (2023: € 9.3 million) by 73 percent.
Due to the good results in the first half of 2024, ZEAL confirms the forecast published on March 20, 2024.
ZEAL launches first house raffle in Germany
As announced a few months ago, ZEAL launched another charity lottery on 01 August 2024, namely Traumhausverlosung. It is the first raffle in Germany in which participants have the chance to win a fully furnished dream house. Each house is guaranteed to be raffled off regardless of the number of participants. Participants also have the chance to win numerous additional prizes.
The post ZEAL achieves growth of more than 40 percent in revenue and earnings in the first half of 2024 appeared first on European Gaming Industry News.
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SolutionsHub opens Dublin office to support iGaming clients entering new €8bn market
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Expansion comes as Ireland rolls out new gambling regulatory framework, with industry valued at over €8 billion annually
SolutionsHub, a trusted provider of regulatory and operational solutions for the iGaming sector, has announced the opening of a new office in Dublin to support clients entering the Irish market as the country implements its new gambling regime.
The Gambling Regulation Act 2024, which established the Gambling Regulatory Authority of Ireland (GRAI) earlier this year, represents the most significant change to gambling oversight in the country in decades. Full licensing enforcement is scheduled for mid-2026, transforming a market currently valued at more than €8 billion annually and positioning Ireland as one of Europe’s most closely watched iGaming jurisdictions.
SolutionsHub’s new Dublin office provides a local base to assist existing clients and international operators seeking Irish or wider EU licences, positioning the firm at the centre of one of the world’s most dynamic technology and financial services hubs.
As part of the application process, the GRAI will conduct a risk-based review of the applicant’s suitability. Applicants must demonstrate sound governance practices, financial health, and compliance frameworks, such as anti-money laundering, responsible gambling, and risk management. Additional requirements include disclosures of beneficial ownership, tax clearance, any criminal history and/or previous regulatory action. SolutionHub’s presence will bolster all operator applications with in-the-market guidance and support.
“With the Gambling Regulation Act now in effect and enforcement deadlines approaching, demand for expert support is at an all-time high,” said Lee Hills, CEO of SolutionsHub.
“Several of our clients are already preparing to apply for Irish licences, and our new Dublin office ensures they have direct, on-the-ground guidance to meet the requirements and enter the market with confidence.”
SolutionsHub is recognised for securing first-of-their-kind approvals in iGaming, fintech, and blockchain, and for guiding companies through complex regulatory lifecycles in multiple jurisdictions. Unlike traditional consultants, the firm supports clients from initial licence applications through to long-term compliance and operational success.
“Dublin is already a global centre for technology and financial services, and Ireland is now set to become one of Europe’s most important regulated iGaming markets,” said James O’Kelly, Head of Corporate Development at SolutionsHub. “By establishing a permanent base here, we can work more closely with clients and partners, while also building our local team to support long-term growth, innovation and job creation under Ireland’s new gambling framework.”
SolutionsHub continues to be a trusted authority in licensing, compliance, and operational support. The firm’s Irish office positions it at the forefront of a new era for the country’s gambling sector, helping operators capitalise on growth opportunities while ensuring robust compliance.
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C-Suite Product Engineering Appointment at Bede Gaming
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Bede Gaming has announced a new leader in its Executive team with the appointment of Andrew Humphreys as Chief Product Engineering Officer.
Humphreys brings 16 years of experience in software engineering, with specialised expertise in end-to-end solutions and player experience. With a valuable customer-minded technical perspective, this addition to the platform provider’s seniormost team demonstrates a dedication to innovative UX in Bede’s product strategy.
An internal promotion, Humphreys climbed the ranks at Bede from a front-end developer and solution architect, progressing on through several positions of leadership and making a significant contribution to many of Bede’s key achievements along the way. As one of its longstanding employees, Humphreys has grown professionally with Bede, influencing its long-term strategic direction and witnessing firsthand the company’s transformational growth from start-up to a market-leading, international full-service platform provider.
Most recently, as Head of Product Engineering and a core member of the company’s senior leadership, Humphreys has led on product and technical solutions for customer projects, forward-thinking roadmap development, and introducing a performance-focused development culture throughout Bede’s product engineering teams.
This experience and tenure within Bede’s engineering department have positioned Humphreys for the newly created C-level position, in which he will retain responsibility for the continued delivery of high-quality products and features for the platform, including player account management, player engagement and front-end web & app.
“I’m thrilled to welcome Andrew to the Executive team. He has already demonstrated exemplary leadership and strategic thinking in managing our product development workstreams,” said Colin Cole-Johnson, Bede Chief Executive Officer. “Andrew has a keen eye for measurement, optimisation and continuous improvement that I’m sure will take our product engineering functions from strength to strength.”
“This promotion is an exciting step forward in my career, and one of many highlights that I have enjoyed during my time at Bede. As an engineering leader, I aspire to bridge the gap between our customers and our development teams. By fostering these relationships, we have delivered cross-functional, end-to-end solutions to an exceptional standard. I’m passionate about what we’ve built so far at Bede, and I’m excited to continue innovating with such a talented, dedicated team. I couldn’t see myself working anywhere else.” Humphreys said.
The introduction of the new Product Engineering C-Suite position comes as Bede’s Chief Operating Officer Paul Dinning announces his retirement at the end of 2025, after 9 years with the company.
The post C-Suite Product Engineering Appointment at Bede Gaming appeared first on European Gaming Industry News.
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iGaming Wise Officially Rebrands to Wise Connections
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Following two years operating as iGaming Wise, and more than three years previously as Affluck, the company is entering a new chapter under its new name: Wise Connections.
The rebrand reflects the company’s continued evolution and its commitment to delivering clear value, stronger matchmaking, and more direct, effective connections for partners across the iGaming sector.
Wise Connections is built on a simple idea: quality beats quantity. Instead of pushing generic introductions or relying on outdated directories, the platform focuses on personal, vetted, and direct connections. Every introduction is made manually through trusted channels like Telegram, LinkedIn, or email, ensuring that both sides meet with full context, purpose, and confidence.
The core services remain the same: Marketing & PR, Consulting, Affiliate Management, but they are now tied together under a stronger single identity. And the biggest focus moving forward is the B2B Matchmaking, which has already proven to be one of the most effective ways to help operators, providers, affiliates, and service companies expand into the right markets.
Founder & CEO Gjorgje Ristikj describes the change as a natural step in the company’s growth: “We wanted a name that reflects what we really do. We connect companies with people who matter, and we do it the right way, personally, transparently, and with purpose.”
Wise Connections is not just a new name, it’s a clearer direction. A more structured approach. And a stronger commitment to building long-term partnerships that actually move businesses forward.
The post iGaming Wise Officially Rebrands to Wise Connections appeared first on European Gaming Industry News.
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