Lottomatica betting growth helps 4% revenue push

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Italian gambling operator group Lottomatica has reported Q1 upticks of four per cent and one per cent for revenue and GGR, respectively.

Revenue rose to €440.1m while the company’s GGR hit €1.01bn, up one per cent compared to Q1 2023.

Adjusted EBITDA for the latest period climbed by 23 per cent (at normalised payout) to €149.5m, which was a decline of four per cent compared to Q1 2023.

Lottomatica reported operating cash flow of €110.1m and an adjusted net profit of €49.7m.

Guglielmo Angelozzi, CEO of Lottomatica Group, said: “In the first quarter of 2024 we have continued our path of organic growth, also supported by solid market tailwinds, with revenues and EBITDA achieving double digit growth year-on-year (at normalised payout).

“We have successfully completed the acquisition of SKS365 in April 2024, therefore upgraded the guidance, and continue to execute on our strong pipeline of bolt-on M&A.”

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Lottomatica’s total bets for Q1 were up 20 per cent year-on-year to €8.7bn, including online betting growth of 36 per cent to €5.1bn.

In fact, there were rises in bets across the board, with Sports Franchise and Gaming Franchise betting also climbing.

Revenues for the online and Gaming Franchise segment rose by 21 per cent and four per cent, respectively, but there was a 15 per cent decline in Sports Franchise revenue.

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