Lottomatica reports surge in revenue in 2022
The Italian operator has reported full-year revenue as it prepares for a stock exchange listing in Milan.
Italy.- Lottomatica SPA has reported revenue of €1.39bn for 2022, an increase of 72 per cent against comparative results the previous year. Partly responsible for the rise was the group’s 2021 merger with Gamenet Group, making it the biggest retail gambling operator in Italy.
Just over half of revenue came from Lottomatica’s gaming franchise, up 93 per cent to €725m from wagers of €11bn. Meanwhile, revenue from its sports betting franchise also boomed despite it having to reduce the number of outlets. Revenue here hit €341m, up 122 per cent, from €2.53bn in bets.
Online franchise revenue rose 17.5 per cent to €328m thanks to a wider range of products and other improvements. Costs also increased in most areas, but the company still reported a net profit of €73m in contrast to a loss of €57m in 2021. EBITDA was up 101.8 per cent at €460m.
The company’s owner, Apollo Global, plans to list Lottomatica on the Milan stock exchange sometime in the second quarter of the year. It’s reportedly aiming for a €5bn valuation, including the company’s corporate debt, which would probably make it the biggest listing on the Borsa Milan this year.
Apollo Global backed Gamenet completed its €1bn acquisition of Lottomatica’s B2C business in 2021, after which the company took on the heritage Lottomatica name. It is Italy’s largest land-based gambling operator with a 3,000 betting points, 1,400 gaming halls and 13,600 tobacconist/bar gaming machines.
