ZEAL Network said it will put its vice president of games, Alex Green, in charge of SevenCanyon once its acquisition of the UK prize draw operator closes. The move gives ZEAL an internal successor lined up before the transaction is completed.
SevenCanyon’s founders will remain with the business for six months after completion before Green takes over. Green joined ZEAL on 9 September 2024 after more than 20 years in roles at the UK National Lottery, first with Camelot and then with Allwyn, and was tasked with expanding ZEAL’s online casino games business.
ZEAL has agreed to buy the remaining 96.5% of SevenCanyon that it does not already own, after holding a 3.5% stake. The deal calls for an initial cash payment of about £33.8 million, subject to post-completion adjustments, plus up to £4.8 million more in contingent payments over six months.
The purchase will be financed with a €40 million term loan arranged by Deutsche Bank over seven years. SevenCanyon generated EBITDA of more than £10 million in the financial year ended March 2026.
SevenCanyon runs UK prize draw brands including 7days Performance, Redline Competitions and UK Carp Competitions. ZEAL expects the purchase to contribute positively to EBITDA in the high single-digit millions of euros in the first full financial year after completion.
The move lands in a market ZEAL described as worth about £1.3 billion and home to more than 400 operators. Government research commissioned by DCMS in August 2023 estimated about 7.4 million adults took part in prize draws and competitions, with spending of around £1.3 billion.
The GOV.UK voluntary code, which took effect on 20 May, says prize draws do not require a licence under the Gambling Act 2005 because they offer a free entry route. It also says operators should use proper age checks, set spending limits and cap credit card entries at £250 a month, with credit cards barred for instant-win competitions.
