Lottomatica surges on the stock market, with revenue jumping to 1.72 billion thanks to online gaming

Even in pre-market trading, the figures for the first nine months gave Lottomatica’s share price a boost; yesterday, two hours before the close of the Milan Stock Exchange, it was still up 4 per cent, before ending the session up 0.83 per cent (equivalent to €26.81 per share).

The figures as at 30 September, in fact, show an adjusted profit of 262.6 million (+2%), an adjusted EBITDA of 665.4 million (+8%) on revenue of 1.72 billion, up 5% (in the third quarter alone, adjusted EBITDA rose by 3 per cent to 200 million, whilst revenue grew by 5 per cent to 537 million). The company has also confirmed its guidance for 2026, with adjusted EBITDA expected at the upper end of the €940–980 million range, whilst revenue is estimated at between €2.39 billion and €2.46 billion (in a range of +6 per cent to +9 per cent).

“The results for the third quarter of 2026 are in line with our expectations and the consensus, with EBITDA up 3 per cent year-on-year, driven by the Online segment (+9 per cent), but with the Sports Franchise division down, as expected, due to an unfavourable payout,” commented analysts at Intermonte, who highlighted the “solid” cash generation, “with net debt as at 30 September in line with our expectations”.

“Everything is going according to plan and we can confirm that we expect the deal to be finalised in the second quarter of 2027,” said Lottomatica’s chairman and chief executive, Guglielmo Angelozzi, referring to the recent acquisition of the Spanish group Cirsa (see *Il Sole 24 Ore* of 9 October). Regarding the roadmap towards the closing, Angelozzi noted that the syndication of the bridge loan to finance the transaction has been completed and that all applications for the necessary authorisations have been submitted. The shareholders’ meetings to approve the merger will be held by the end of November (on 23 November for Lottomatica and 30 November for Cirsa).

Lottomatica’s share price is also being buoyed by figures released yesterday by Agipro – the gaming and betting news agency – on market trends in the online casino sector. According to the figures, turnover rose by around 8.5–9 per cent to over 7.4 billion in October, whilst gross gaming revenues (in essence, wagers net of winnings paid out) rose by 9.4 per cent to 320 million, compared with the previous figure of 292.6 million. It should be noted that Lottomatica’s market share rose to 31.4 per cent, up 10 basis points compared with September and the average for the entire third quarter of 2026. “In a context where the online casino (iGaming) segment accounts for almost 60 per cent of Lottomatica’s estimated total wagers for 2026,” conclude the analysts at Akros, “the growth trends and market share performance are solid.”