Lottomatica reports €62m net loss for first half

Lottomatica saw huge online growth but suffered the impact of retail closures due to the Covid-19 pandemic. 

Italy.- Gamenet Group’s Lottomatica has reported a net loss of €62m for the first half, up from a loss of  €15.7m in H1 2020.

Revenue was up slightly year-on-year at €181m, but remained affected by long retail closures in Italy due to the Covid-19 pandemic.

As a result of closures, online was the main source of income, with revenue rocketing 202.6 per cent year-on-year to €128.5m. However, that was aided by the acquisition of Lottomatica Scommesse from IGT in May, and the rise was partly due to the cancellation of sporting events in the first half of 2020. 

Retail revenue fell by 83.6 per cent year-on-year to €9.7m as closures caused stakes to fall 86.3 per cent. Amusement-with-prize machine (AWP) revenue fell 58.5 per cent to €18.7m, and video lottery terminal (VLT) revenue fell 26.3 per cent to €20.6m. Street operations revenue dropped 77.5 per cent to €610,000.

An increase in costs saw EBITDA fall 10.6 per cent to €37.8m. Loss before tax reached €73.3m, compared to €20.6m in 2020.

Italy’s Customs and Monopolies Agency (ADM) has said that the country’s sports betting concessions will be extended until October 31. The licences were due to expire at the end of June.

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