Lottomatica revenue rises 16% as company pledges to continue disciplined approach
Online gambling revenue was up by 27 per cent year-on-year after Lottomatica’s SKS365 acquisition.
Italy.- Lottomatica has reported revenue of €1.64bn for the nine months ending September 30. That’s a rise of 16 per cent year-on-year. The acquisition of SKS365 played a major role in the growth thanks to its faster-than-expected integration.
Lottomatica’s online revenue rose by 27 per cent to €688.9m. This is now the group’s biggest segment. Revenue from sports betting rose by 22 per cent to €381.7m while gaming revenue was up 2 per cent at €569.6m.
Pre-tax profit for the period came in at €158.4m, up 59.5 per cent, while net profit was up 108 per cent at €93.3m.
Chairman and CEO Guglielmo Angelozzi said the company will continue its disciplined approach to any further M&A activity. He said that in five years, Lottomatica had identified 57 potential takeover targets and completed due diligence on 14 but proceeded with only the trio of Betflag in 2022, SKS365 in April last year and video lottery provider Distante Srl this year. All of these were in Italy.
“We are going to keep our disciplined approach, based on value creation and benchmarked against share buybacks,” Angelozzi said. “We have a very selective approach, and we are committed to it. Share buyback continues to be remain the main benchmark for shareholder return with our M&A activity. Our focus is on Europe, regulated markets and B2C within the key segments of operation.”
