Lottomatica reports record results for H1

Revenue was up 14 per cent in the first half.

Italy.- Lottomatica SPA has reported group net revenue (NGR) of €931m for H1, a rise of 14 per cent year-on-year. It took wagers of €18bn, a rise of 23 per cent. Online bets were up 41 per cent at €10.7bn.

Gaming Franchise revenue rose 3 per cent to €380m, while online NGR was €338m, up 37 per cent. Meanwhile, Lottomatica’s Sports Franchises contributed €213m, a rise of 19 per cent at a normalised payout.

Although group EBITDA was affected by unfavourable sports payouts in the first quarter and the consolidation costs for the acquisition of SKS365, adjusted EBITDA was €317m, a rise of 6 per cent. On the back of the results, the Milan-listed group has increased its full-year guidance. It now expects an EBITDA range of €700m to €730m, with growth to be boosted by the integration of SKS365.

Lottomatica said it had increased its Italian online market share by two points to 29 per cent.

Group CEO Guglielmo Angelozzi said: “In the second quarter of 2024, we have continued our path of organic growth, supported by solid market share gains in online, leading to sustained double-digit growth in revenues and EBITDA. We have successfully completed the acquisition of SKS and are progressing with the integration at a fast pace, having secured to date circa 40% of the synergies announced. 

“We also opportunistically refinanced notes worth €900m in May, resulting in material interest savings. In light of the strong performance, the delivery in cost synergy realisation, and expected bolt-on acquisitions, we increase our guidance for FY 2024.”