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Zeal Network Reports First-quarter 2022 Results
German lottery provider Zeal Network has reported a 101.6% year-on-year increase in net profit for the first quarter of its 2022 financial year, following a rise in revenue and reduction in operating costs.
Revenue, including income from jackpot insurance, for the three months to 31 March 2022 was €25.1m, an increase of 11.0% from €22.6m in the same period last year.
The majority of revenue (€24.0m) was generated through Zeal’s German business, while the remaining €1.1m came from other operations, with both areas benefitting from higher billings.
Total group billings, which comprise all stakes from customers through Zeal’s offering, were up 10.9% to €181.1m due to better jackpot development and an increase in customers.
Zeal was able to acquire 154,000 registered new customers in the quarter, slightly lower than the 156,000 last year, with acquisition costs per registered new customer up from €33.48 to €38.09.
Turning to costs, operating expenses were 9.8% lower at €16.5m, helped by a 20.2% cut in personnel spend as total employee headcount was reduced from 164 to 156. Marketing costs were 3.3% higher at €7.3m, but direct operating expenses were down 10.6% to €2.5m and indirect operating expenses were reduced by 15.2% to €2.6m.
Higher revenue and lower spending led to a 95.6% year-on-year increase in earnings before interest, tax, depreciation and amortisation (EBTIDA), which reached €8.9m in the quarter, up from €4.6m last year.
Zeal also noted €2.1m in amortisation and depreciation expenses, a 2.9% drop on Q1 2021, which resulted in a 187.6% jump in earnings before interest and tax (EBIT) to €6.8m.
After also taking into account €158,000 in financial costs and a €43,000 loss from associates, pre-tax profit was €6.7m. Zeal paid €1.6m in income tax, meaning it ended the quarter with a net profit of €5.0m, more than double the €2.48m posted last year.
“We have made a good start to 2022 and were able to increase revenue and profitability once again; this gives us momentum to invest in further growth this year,” Jonas Mattsson, chief financial officer of Zeal, said.
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Bingo Paradise, a prominent UK iGaming affiliate, has announced its most successful quarter ever, achieving record growth during Q3 2024. The portal saw an unprecedented rise in first-time depositors (FTDs), a testament to its commitment to delivering value to players and operators in the highly competitive iGaming space.
“Q3 2024 has been a standout quarter for Bingo Paradise,” said Tom Waite, Manager of Bingo Paradise. “Our success is thanks to the hard work of our small team of talented writers and the oversight of our dedicated compliance manager. Together, they ensure that we provide honest, transparent reviews and operate within the highest industry standards. This, combined with our marketing efforts, including SEO and negotiating exciting player offers with operators, has been key to sending substantially more FTD’s to the operators.”
Bingo Paradise achieved a 65.24% year-over-year increase in FTDs compared to Q3 2023. This impressive growth underscores the affiliate’s focus on player-first strategies, such as creating honest, well-researched reviews that empower users to make informed decisions. The team’s compliance manager ensures every piece of content adheres to strict regulations, building trust with both players and operators.
A key factor in the platform’s success is its ability to negotiate exclusive offers with UKGC-licensed operators. These partnerships allow Bingo Paradise to provide unique deals that resonate strongly with players, enhancing its appeal as a go-to player resource. The focus on promoting only licensed operators also ensures fairness and security for users, which further solidifies the portals reputation.
The brands approach is a model of integrity and innovation. By prioritising compliance and transparency, Bingo Paradise, which itself is owned by Meteor Marketing Ltd has positioned itself as a trusted affiliate partner, both for operators seeking reliable collaborations and for players looking for guidance in the iGaming world. As the platform celebrates its Q3 2024 achievements, it remains committed to exploring new opportunities and maintaining its high standards.
Eagerly anticipated release now confirmed following a highly successful exclusivity period with Rush Street Interactive
Play’n GO has today announced the official US release of its hit title Colt Lightning Firestorm, following a three-week period of exclusivity with Rush Street Interactive brands BetRivers and SugarHouse.
Colt Lightning Firestorm was released in Europe and other jurisdictions in May 2024, and its release in the US comes with much fanfare following the game’s rave reviews in its short exclusivity period. The game is a sequel to the wildly popular Colt Lightning game which was released early last year, and indications at this stage suggest that this sequel may prove even more successful.
This announcement sees Colt Lightning Firestorm available to players in each state and operator with whom Play’n GO is licensed. Play’n GO first entered the online casino market in the US in 2022, and has reiterated its commitment to becoming active in every regulated market around the world.
Magnus Olsson, Chief Commercial Officer at Play’n GO said: “We’re excited to unveil Colt Lightning Firestorm to the wider online casino gaming community in the US, and have been very pleased to see its strong performance during its exclusivity period with Rush Street Interactive. We had high hopes for the game following the success of its predecessor, and we’re confident that these robust results will continue now that the game is available to an even bigger audience.”
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