Lottomatica has achieved a new peak in its market share within the Italian online sector, reporting a group revenue of €1.72 billion for the first three quarters of 2026. The company’s online market share soared to 32.4% in September, marking a notable increase.
In the third quarter of 2026, Lottomatica averaged a market share of 31.7%, reflecting a year-on-year increase of 0.9%, driven by a 2.1% rise in its iSports segment. Its iGaming segment also gained 0.6% in market share.
The operator processed a staggering €35.2 billion in bets over the first nine months of 2026, up 8% from the previous year. This gambling activity contributed to a 5% increase in group revenue.
Gross gaming revenue (GGR) rose to €3.52 billion, which is a 2% increase, while adjusted EBITDA surged 8% to €665 million. Operating cash flow improved to €544.9 million, up from €504 million in the same period of 2025. At the end of September, net financial debt stood at €2.16 billion.
Lottomatica reaffirmed its full-year 2026 guidance, anticipating adjusted EBITDA will reach the upper end of its target, between €940 million and €980 million.
CEO Guglielmo Angelozzi commented on the results, noting strong quarterly performance and ongoing expansion in online and sports betting. "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. He expressed confidence in the company's growth trajectory, attributing it to favorable market conditions and effective strategic execution.
While online revenue increased by 13% year-on-year, totaling €780.82 million for the first nine months, both the sports and gaming sectors experienced declines. Sports franchise revenue dipped 1% to €376.68 million, despite an 11% growth in bets. The company indicated that if normalized sports betting payouts of 80.5% were taken into account for retail, sports franchise revenue would have risen by 13%. Conversely, Lottomatica's gaming franchise revenues fell by 2% to €560.28 million.
Lottomatica's extensive retail presence positions it to face challenges from proposed adjustments outlined in Italy's 2027 budget bill, presented to parliament earlier this week. If passed, the bill would increase the PREU machine levy on slot machines from 24% to 25% starting January 1 and raise the levy on video lottery terminals from 8.6% to 9.6%. However, slots paying at least 70% in prizes would see a reduced rate of 20%, while the maximum stake for slot games is set to double to €2, with maximum winnings increasing from €100 to €200.
Additionally, Angelozzi highlighted a significant development for Lottomatica with the announcement of a merger with Cirsa, aimed to close in the second quarter of next year. This merger is expected to form the second-largest publicly traded gaming and sports betting operator worldwide. In its 9M presentation, Lottomatica confirmed that integration workstreams are already in place, ensuring readiness for execution on the day of the merger's completion. Financing for the merger has been secured, with Cirsa planning an Extraordinary General Meeting on November 30 to discuss additional approvals.
