German online lottery firm Zeal expects EBITDA for the financial year to reach between €27m and €30m – an increase from the previous EBITDA forecast of €18m to €21m of four months ago.
The company’s business model changed to an online lottery brokerage, implemented on October 15, 2019, which allowed the group to generate additional earnings contributions from its secondary lottery business during this period.
In addition, the marketing investments made by Zeal, depending on the respective jackpot development, were less than originally expected. This was both due to lower jackpots and the fact that after the business model change, Tipp24.com’s marketing spend has not been fully ramped up as yet.
