Six months into what will be the Italian betting market’s first full year under a new regulatory regime, the still nascent framework appears to be paying off for major players like Lottomatica.
Publishing its H1 financials, the Euronext Milan-listed betting and gaming business reported 5% year-over-year revenue growth across its business. Total revenue for the first six months of the year came in at €1.2bn (£1bn).
This was entirely driven by online performance, however, with revenue for its sports franchise and gaming franchise both falling by 1% and 2% respectively to €275m and €185m.
In contrast, the online division grew 6% to €525m. Across the business, revenue was driven by an increase in bets, with online bets up 12% and total bets up 9% to €24m.
Guglielmo Angelozzi, Chairman and Chief Executive Officer of Lottomatica, remarked that the group had demonstrated “consistency in growth” across “all key financial and business metrics”.
He further pointed to Lottomatica’s continuous and substantial margins increase “on the back of a consistently growing online market and market share” and consistent EBITDA figures.
“Thanks to this we have consistently delivered superior returns to our shareholders and distributed more than 10% of our market capitalisation since June 2025,” he said.
“On the back of this solid quarter, we also reiterate our view to close the FY 2026 Adj. EBITDA at the top end of the guidance.”
The key numbers from Lottomatica’s financials
Lottomatica’s revenue gains translated to profitability. The group declared:
- Adjusted EBITDA of €465m, up 10% from H1 2025
- Q2 Adjusted EBITDA of €230m, up 14% from the year prior
- Adjusted net profit of €196m for the full six month period
Regarding revenue, quarterly performance roughly corresponded to the full half-year performance. Q2 revenue came in at €260m, up 17% YoY, while gaming franchise revenue fell 3% to €185m.
An outlier was the sports franchise, however, which saw 3% revenue growth to €133m, though declining overall in H1 as outlined above.
Despite a broadly positive first six months of the year, Lottomaica still carries a reasonable amount of debt, with total net financial debt totalling €2.1bn.
Nonetheless, the firm remains confident of its position in Italy’s new betting market.
The Italian market is one of the largest in Europe, generally considered one of the five biggest regulated markets in the continent alongside the UK, Germany, France and Spain.
According to the Blask Index, Italy is the largest market in the European Union (EU) with a Competitive Earnings Baseline (CEB) of US$6.4bn ((£4.7bn/€5.6bn) spread across 135 brands.
Of these 135 brands, Lottomatica is the fifth largest according to Blask, with Flutter Entertainment‘s Sisal the market leader, followed by BetFlag, GoldBet and bet365.
According to Lottomatica, it has now increased its share of the total online market to 31.6% in Q2, with its share of the online sports betting market standing at 31.8% and its share of the iGaming market standing at 31.6%.