Lottomatica has set a new benchmark in the Italian online sector, achieving an impressive market share of 32.4% in September 2026. The company revealed these results on Tuesday, noting that group revenue for the first nine months of 2026 reached €1.72 billion.
In the third quarter of 2026, Lottomatica maintained an average market share of 31.7%, reflecting a year-on-year increase of 0.9%. This growth was bolstered by a 2.1% rise in its iSports market share, along with a 0.6% increase in iGaming.
The company recorded €35.2 billion in bets for the first nine months of 2026, marking an 8% increase compared to the previous year. This influx of bets contributed to a 5% growth in overall group revenue. Gross Gaming Revenue (GGR) climbed to €3.52 billion, up by 2%, and adjusted EBITDA surged by 8% to reach €665 million.
Operating cash flow improved to €544.9 million from €504 million in the same period of 2025, while Lottomatica’s net financial debt stood at €2.16 billion at the close of September. The company reiterated its full-year guidance for 2026, expecting adjusted EBITDA to fall within the range of €940 million to €980 million.
Guglielmo Angelozzi, CEO of Lottomatica, emphasized the robust performance during the quarter, noting substantial growth in online and sports betting activities. "The third quarter of 2026 marks another strong quarter for Lottomatica, with double-digit growth in Online and Sports volumes, and in Adjusted EBITDA normalized (+17% YoY at normalized payout)," he stated. "Looking ahead, we remain confident in our growth trajectory, supported by favorable market dynamics, continued execution of our strategy and strong cash flow generation."
Despite the surge in online revenue, which increased by 13% year-on-year to €780.82 million, revenues from Lottomatica’s sports and gaming franchises experienced declines. The sports franchise saw a 1% dip in revenue to €376.68 million, even as bets grew by 11%. Lottomatica pointed out that if retail sports betting payouts had normalized to 80.5%, revenue for this segment would have risen by 13%.
The gaming franchise reported a 2% decline, with revenues hitting €560.28 million. Given Lottomatica's expansive retail footprint, the company may face challenges due to proposals in Italy’s 2027 budget bill, recently presented to parliament. The proposal suggests elevating the PREU machine levy on slots from 24% to 25% starting January 1, with a concurrent increase on video lottery terminals from 8.6% to 9.6%. However, slots that payout at least 70% in prizes would enjoy a reduced rate of 20%, while the maximum stake per slot game is set to double to €2, with maximum prizes increasing from €100 to €200.
Additionally, Angelozzi discussed a significant strategic development with Lottomatica's announcement of a merger with Cirsa in September. This merger, anticipated to finalize in Q2 of next year, will position Lottomatica as the second-largest publicly listed gaming and sports betting operator worldwide. The company revealed that integration efforts are underway and aims to be fully prepared to execute the integration plan as soon as the deal closes. Lottomatica has secured financing for the merger, with the next step being the acquisition of further approvals. Cirsa is convening an Extraordinary General Meeting on November 30 to address these matters.
