Stefan Tweraser took the helm as CEO of Germany's lottery brokerage Zeal in September, bringing with him a varied background that includes e-commerce, consulting, and rocket engineering. In a recent conversation with iGB, Tweraser detailed how his unique experiences have equipped him for the complexities of the gambling industry, particularly in understanding the role of regulation in fostering innovation.
Tweraser noted, "Prior to Zeal, I worked at Rocket Factory Augsburg, where we built launch vehicles for satellites – an environment that is highly regulated." He emphasized that effective regulation can create a framework for innovation, clearly outlining areas where innovation is possible and setting non-negotiable standards, such as safety. At Zeal, this principle is particularly relevant in the context of responsible gambling.
The decision to bring Tweraser on board stemmed from the board's desire for a leader with experience in regulated environments and a substantial understanding of highly scalable digital platforms. Tweraser's discussions with them centered on how regulation can drive innovation.
“I am convinced that regulation is an enabler for the right kind of innovation, when applied correctly,” he explained. “Without it, innovation risks being driven by short-term tactics or questionable practices. Strong and consistently enforced regulation creates a level playing field and allows companies to focus on what truly matters: delivering value to customers.”
Before his time at Rocket Factory, Tweraser held executive roles at Deezer, an independent music platform, and also worked with Google and A1 Telekom Austria. His background in e-commerce has been invaluable, as Zeal aims to position itself as more than a gambling platform.
“That experience is directly applicable to Zeal, where demand can increase significantly within very short periods of time, particularly around large jackpots. Managing these dynamics – both in terms of technology and customer experience – requires a different mindset than more predictable e-commerce models,” he said.
Tweraser admitted he initially underestimated the appeal of the lottery sector. However, his deeper engagement with the industry revealed its capacity to operate across the entire value chain and showcased the underlying motivations of its customers. “What is particularly compelling is how our product teams translate this into differentiated offerings,” he added.
In March, Zeal reported a 16% growth in revenue, amounting to €218 million for FY25. This growth occurred despite what the company described as a “weak jackpot environment” in 2025. The revenue exceeded the forecast range of €205 million to €215 million set in September. EBITDA reached €68.8 million, hitting the upper end of the previous forecast of €63 million to €68 million.
Looking forward, Zeal anticipates continuing its marketing investment at a rate that will outpace revenue growth. Tweraser mentioned that Zeal is seeking additional investments in the prize draw sector, with plans to potentially expand beyond Germany. He expressed strong confidence in the lottery sector's growth potential, asserting, “At first glance, the category may seem somewhat traditional. But in reality, only very few products offer people the opportunity to dream big – even if only for a few moments. I do believe the category can be highly engaging if it is positioned and communicated in the right way.”
Tweraser replaced Helmut Becker, who served as CEO for 10 years before stepping away from the sector. Becker has plans to focus on investments in new start-ups and entrepreneurship, aiming to branch out into various sectors beyond gaming.
