Frankfurt-listed European lottery operator Zeal Group has stated that it is confident in its international projects and investments having concluded a busy H1 2017 period
Last week the digital lottery operator detailed ‘solid’ H1 2017 results, with the company reporting group revenues of €64 million combined with an operating EBIT of €7.9 million.
Updating investors and stakeholders, Zeal governance stated that its ‘internationalisation strategy’ remained the firm’s key initiative as Zeal looks to expand within new European markets increasing its marketing expenditure.
To complement its international ambitions, Zeal carried out its recent acquisition of US social games and competitions start-up Omaze for a reported €2 million in May.
Moving forward the company details that its new market entry will be aided by an expanded lottery games portfolio, having released new games “Danke Million” and “Cash4Life”, during the H1 period.
Dr Helmut Becker, Chief Executive Officer of Zeal Group commented on H1 2017 performance
“In the first half of the year, we made good progress and stayed fully in line with our internationalisation strategy. Later this year, we expect to receive a licence to operate in the Czech Republic. Our innovative lottery products and long-standing experience help us to make successful new market entries. At the same time, we further push the expansion of our B2C product portfolio and make strategic investments, including our stake in Omaze.”
The Frankfurt-listed company remains confident of hitting its full-year 2017 revised forecasts, targeting group revenues of + €130 million combined with an EBITDA range of €15-25 million.