Date: 02.05.2024

by Kajetan Sawicz

Last update: 08.05.2024 11:50

Lottomatica Reports Strong Q1 Growth

Lottomatica, a leading gaming operator in Italy and throughout Europe, recently unveiled its financial results for the first quarter of 2024, highlighting a year-over-year growth in bets and gross gaming revenue (GGR).

Financial Growth

Lottomatica’s financial update revealed a substantial increase in betting activity, with €8.7 billion ($9.28 billion) in bets, marking a 20% increase from Q1 2023. The GGR for the same period reached €1.01 billion ($1.08 billion), showing a modest year-over-year growth of 1%.

Revenue figures were equally strong, with Q1 2024 revenues hitting €440.1 million ($469.9 million), a 4% increase over the previous year, or 16% at a “normalized payout,” according to the company’s analysis.

Segment Performance and Market Share

The company experienced varied performance across its business segments. Online revenues were particularly strong, with a 21% increase to €150.4 million ($160.6 million).

Gaming franchise revenue also saw a growth of 4% to €195.3 million ($208.5 million). However, sports franchise revenue declined by 15%, totaling €94.4 million ($100.8 million).

Strategic Moves and Market Positioning

Guglielmo Angelozzi, CEO of Lottomatica, expressed his enthusiasm about the company’s trajectory, noting the strong path of organic growth and the exceptional performance in terms of EBITDA and revenues. “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,” Angelozzi remarked.

Following the acquisition of SKS365, Lottomatica has revised its financial forecasts, expecting FY 2024 revenues to be between €2.02 billion ($2.16 billion) and €2.06 billion ($2.2 billion), with adjusted EBITDA projected between €680 million ($726.1 million) and €700 million ($747.4 million).

The company’s market share also saw significant gains, with an estimated total market share of 21.6% in Q1 2024, up nearly 3% from the previous year. This includes a 21.8% share in the iGaming sector and a 21.2% share in online sports betting.

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