ZEAL lifts nine-month revenue 22% to €198.8m, raises 2026 outlook after SevenCanyon

ZEAL Network SE reported nine-month 2026 group revenue of €198.8 million, up 22% year-on-year, and raised its full-year revenue guidance to €270–280 million following the first-time consolidation of UK prize draw business SevenCanyon. The company published the update on 04 November 2026 in Hamburg.

Group EBITDA increased 9% to €58.7 million despite what ZEAL described as “mid-single-digit millions of euros” in non-recurring, M&A-related expenses. “Our strategy to diversify our business is paying off. We are expanding our revenue basis and opening new growth opportunities,” said Dr Stefan Tweraser, CEO of ZEAL Network SE.

ZEAL’s Lotteries segment remained the main contributor, with revenue up 16% to €170.8 million. Lottery billings increased 10% to €915.1 million, supported by customer growth and activity. New lottery customers rose 15% to more than one million in the period, while average monthly active users increased to 1,678 thousand. Lottery gross margin improved to 18.3%.

Outside core lottery brokerage, ZEAL said its Games business revenue grew 18% to €12.1 million, with billings up 17% to €160.3 million and average MAU rising to 35 thousand. The company also highlighted ongoing expansion of its charity lottery portfolio, including the launch of the Dream Car Raffle (“Traumautoverlosung”) and continued growth from the Dream House Raffle (“Traumhausverlosung”).

SevenCanyon was consolidated for the first time in Q3 after ZEAL announced the acquisition of the remaining 96.5% on 9 July 2026, taking ownership to 100%. In the Others segment, revenue rose 241% to €15.8 million, including €10.5 million from the acquired business. Segment EBITDA grew 59% year-on-year to €2.6 million, with SevenCanyon contributing €1.4 million.

ZEAL kept its 2026 Group EBITDA guidance unchanged at €70–75 million, assuming what it called a normal jackpot environment in Germany and including the expected acquisition-related one-offs. “We have successfully consolidated SevenCanyon into the ZEAL Group,” said Andrea Behrendt, CFO of ZEAL Network SE, adding: “Despite a subdued Eurojackpot environment, we attracted more than one million new customers in the first nine months of 2026.”