Lottomatica Reports Strong 2024 Results with 23% Revenue Growth
Lottomatica exceeded expectations in 2024, delivering what CEO Guglielmo Angelozzi described as an “outstanding” year. The company’s performance was fueled by strong online growth, strategic acquisitions, and a favorable sports calendar. As a result, both revenue and adjusted EBITDA saw substantial increases.
Revenue Surges Past Initial Forecasts
Lottomatica generated €2 billion in revenue for the year ending 31 December 2024, marking a 23% rise from €1.63 billion in 2023.
This result not only surpassed the company’s initial forecast of €1.8 billion to €1.85 billion but also aligned with its revised guidance from July.
A key driver of this growth was a 50% increase in online revenue, which reached €780.2 million.
The acquisition of SKS365 in April 2024 significantly expanded Lottomatica’s online presence, allowing the company to capture a larger share of the digital betting market.
Additionally, total online betting volume surged by 51% year-over-year to €24.49 billion. Several major sporting events, including Euro 2024, contributed to this sharp increase.
Growth Across Key Segments
Lottomatica experienced strong performance across all major divisions. More specifically:
- Online Betting & Gaming: Revenue climbed 50% to €780.2 million, reflecting increased digital engagement.
- Sports Franchise: Revenue rose 25% to €460.8 million, while bet volume grew by 27% to €3.58 billion.
- Gaming: Revenue edged up by 3% to €767.7 million, although wagering volume remained stable at €11.09 billion.
Higher Costs Offset by Profit Growth
While operating expenses increased across the board, revenue growth more than compensated for these rising costs. The most significant expenses included:
- Service costs: €1.21 billion
- Personnel expenses: €135.5 million
- Depreciation, amortization & impairment: €244.4 million
Despite these higher costs, pre-tax profit climbed 32% to €180.9 million. After accounting for taxes (€77.1 million) and non-controlling interests (€5.2 million), Lottomatica’s net profit reached €98.6 million, representing a 45% increase from the previous year.
Moreover, adjusted EBITDA surged by 22% to €706.9 million—well above the company’s initial projection of €625 million to €645 million.
“2024 marked an outstanding year for our group, in which we consolidated our leadership position across all segments and brands,” Angelozzi said.
“We exceeded expectations set at the beginning of the year and subsequent upgrades.”
Optimistic Outlook for 2025
Looking ahead, Lottomatica expects continued growth in 2025. The company forecasts revenue between €2.32 billion and €2.37 billion, with the midpoint representing a 17% year-on-year increase.
In addition, adjusted EBITDA is projected to range from €840 million to €870 million, marking a 21% increase at the midpoint.
“Our objectives for 2025 are to strengthen our leadership position in all segments through product and technology innovation, further develop the omnichannel model while managing efficiently the retail to online transition that is occurring in the market,” Angelozzi stated.