Flutter Entertainment and Lottomatica, bets won in the financial year 2025

As of 22 September, a gaming company will return to the main index of the Ftse Mib stock exchange: Lottomatica (replacing Pirelli). This change was determined both by the excellent performance of the share price and by the fact that Lottomatica has now become a 'public company' after the gradual sale of shares by the former reference shareholder (Apollo Management group funds).

After all, the US industry giant (headquartered in Ireland) Flutter Entertainment is also a 'public company', and both groups showed brilliant results in the first half of 2025. Flutter Entertainment (which, let's remember, controls Lottomatica's direct competitors Sisal and Snaitech) saw revenues rise 12% to $7,852 million, adjusted ebitda rise 22.6% to $1,535 million, and net profit jump from $65 million to $388 million. Lottomatica was not outdone, with revenues jumping 21% to EUR 1,128.9 million (+15% at normalised pay-outs for sports betting equal to 80.5% for retail betting and 35.5% for online betting), adjusted ebitda up 33% to EUR 422.4 million, and net profit up from EUR 20.6 million to EUR 64.8 million (adjusted net profit of EUR 179.3 million). These results were driven, for both groups, by the sports betting sector (in the presence of a favourable pay-out, among other things), in addition to the acquisitions made.

As far as Flutter Entertainment is concerned, after the release of the results as of 30/6/2025, the guidance on turnover and adjusted ebitda for the current financial year was raised from $17.08 billion to $17.26 billion and from $3.18 billion to $3.295 billion, respectively. This revision includes the effect of sports betting trends in the US, the change in US gaming taxation and new cost savings estimates. Lottomatica has so far confirmed its guidance for the 2025 financial year, which envisages revenues of between EUR 2,320m and EUR 2,370m and adjusted ebitda of between EUR 840m and EUR 870m, and also confirmed target synergies from the integration of Pwo (formerly Sks365) of EUR 87m by 2026.

Both groups have initiated buy-back programmes: for Flutter Entertainment, this is the fourth tranche (of 1 billion by 2025) of a 5 billion multi-year programme that began in September 2024, while Lottomatica initiated on 18 June a programme of up to 500 million to be completed within 18 months for no more than 25 million treasury shares, which will then be cancelled without change in share capital. As of 3/9/2025, approximately 2.3 million shares had been purchased, corresponding to slightly more than 0.9% of the share capital.