Lottomatica revenue rises by third
First-quarter revenue and wagers hit a new high amid both retail and online gambling growth in Italy.
Italy.- After Lottomatica beat expectations in 2024, the Italian gambling operator has reported similarly stellar results for the first quarter of the current year. Group revenue rose by a third to a record €585.7m, driven by a 28 per cent increase in wagers (€11.2bn) and sustained engagement via both retail and digital channels.
The online division was the main driver, with a revenue up by 59 per cent to €239m amid a rise in igaming and sports market share and operational synergies from the acquisition of SKS365, now PWO. Sports franchise revenue was also up by 59 per cent at €150.4m thanks to favourable payouts conditions and the expansion of PWO. Gaming franchise revenue was steady at €195m.
Lottomatica says its online market share rose by 1.6 points to 30.4 per cent, with its isports share reaching 31.8 per cent and igaming 30.3 per cent. Adjusted EBITDA was up by 47 per cent year-over-year at €220m.
It has confirmed its full-year forecast of revenue between €2.32bn and €2.37bn and adjusted EBITDA between €840m and €870m. It plans to launch a €500m share buyback programme in June, targeting up to 10 per cent of share capital.
CEO Guglielmo Angelozzi said: “We are off to a great start of the year, reporting our best Q1 results ever and paving the way for a successful 2025. The integration of PWO proceeds at speed, and additional synergies have been identified. Market trends support our organic growth path, and we feel confident in the strength of our business.”
Flutter hopes to challenge the group for Italian dominance following its acquisition of Snaitech from Playtech. Flutter, which already owned Sisal, reckons it now has a 30 per cent market share thanks to the addition of Snaitech’s more than 1,600 betting shops and its portfolio of 60,000 slots and 10,000 videolotteries alongside online gaming and three racetracks in Milan and Tuscany.
