Lottomatica beats expectations with over €2bn in gross gaming revenue for 2024
The Italian gambling operator reported strong growth in the first full year after its Milan IPO.
Italy.- Gruppo Lottomatica SPA has reported strong results for 2024, with record gross gambling revenue (GGR) of over €2bn. Adjusted EBITDA was €739m, up 24 per cent year-on-year and beating guidance of €730m.
In the first full year since its Milan IPO in March 2023, Lottomatica sealed its position as Italy’s biggest gambling operator both in retail and online. Betting volume reached €39bn, with online gambling now the biggest contributor. Lottomatica’s online market share reached 30.9 per cent in Q4 following the acquisition of SKS365 Group and the Planetwin365 brand in April last year. Online GGR rose by 50 per cent year-on-year to €780m.
As for retail results, the sports franchise segment contributed GGR of €460m, up 22 per cent year-on-year, and the gaming franchise segment €763m, an increase of 3 per cent.
Group CEO Guglielmo Angelozzi said: “2024 was an outstanding year for our Group, in which we consolidated our leadership position across all segments and brands. We exceeded expectations set at the beginning of the year and subsequent upgrades, with revenues of €2.04bn and Adjusted EBITDA of €739m. We continued to grow both organically and through M&A, with the acquisition of PWO and executing our bolt-on strategy.”
Lottomatica forecasts between €2.32bn and €2.37bn in GGR and €840m to €870m in adjusted EBITDA for full-year 2025. The company has announced a dividend payout of €0.30 per share and seeks authorisation for a share buyback of up to 10 per cent of its share capital.
Angelozzi added: “Our objectives for 2025 are to strengthen our leadership position in all segments through product and technology innovation, to further develop the omnichannel model while managing efficiently the retail to online transition that is occurring in the market.”
Meanwhile, former owner IGT may have competition from Flutter Entertainment for the next licence for the main Italian lottery. Sources told the Irish Times that Flutter Entertainment is evaluating options to make a joint bid with another party or as part of a consortium before the March 17 deadline set by the customs and monopolies agency, ADM. IGT, formerly Lottomatica Holdings, has run Italy’s oldest lottery for three decades. Its current licence ends in November.
