ZEAL delivered another year of growth in 2025, even as jackpot conditions were softer than a year earlier. The group said its core lottery arm remained the main earnings driver, while newer products added fresh momentum. ZEAL 2025 results also showed how the business is leaning more on games and raffle products to broaden its revenue mix.

• Group revenue rose 16% year-on-year to EUR 218.5m, up from EUR 188.2m in 2024. EBITDA increased 11% to EUR 68.8m, while EBIT was up 12% to EUR 60.1m. ZEAL said the performance came despite a weaker jackpot environment than in the previous year.
• The lottery brokerage business remained the base of the group’s growth in 2025. Monthly active lottery customers reached a record average of 1.558 million, up 8% from 1.436 million in 2024. Billings from lotteries edged up 2% to EUR 1.1bn, while gross margin improved to 17.7%.
• Lottery revenue increased 16% to EUR 195.3m from EUR 168.3m a year earlier. That made the core business the biggest contributor to the overall result once again. In its ZEAL 2025 results statement, the company said customer activity stayed stable despite weaker jackpots.
• Traumhausverlosung and the games segment both added to diversification efforts. The raffle generated EUR 38.9m in billings across four draws, while games revenue rose 46% to EUR 14.4m. ZEAL also expanded its games portfolio to more than 650 titles through new partnerships.
• Customer acquisition remained a key investment area during the year. ZEAL added 1.171 million new registered users, while marketing spend rose 20% to €68.6m. For 2026, ZEAL 2025 results underpin guidance of EUR 250m – EUR 260m in revenue and EUR 70m – EUR 75m EBITDA.

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