ZEAL Network SE Reports Growth Amid Weak Jackpot Conditions

ZEAL Network SE, a leading online lottery provider in Germany, experienced a 6% revenue increase to €54.3 million in Q1 2026, despite an unfavorable jackpot environment. The active customer base grew by 5% to 1.575 million. Investments in expanding the customer base and product offerings impacted EBITDA, which fell to €15.5 million, down 13% from the previous year.

The company launched the Dream Car Raffle, expanding its portfolio of charity lotteries. This step aligns with ZEAL's strategy to diversify its business model and reduce dependency on jackpot cycles. The Dream Car Raffle is ZEAL's third charity lottery in Germany, complementing its traditional lottery offerings.

ZEAL's Games segment also performed well, with revenue rising 14% to €3.9 million. The company focused on marketing (+13%) and personnel (+21%) to support its strategy of scaling charity lotteries and Games.