Lottomatica has achieved a significant milestone in the Italian online sector, reporting its highest market share to date. For the first nine months of 2026, the group's revenue reached €1.72 billion.
In its recent report published on Tuesday, Lottomatica noted that its online market share in Italy peaked at 32.4% in September. The company's average market share for the third quarter of 2026 was 31.7%, reflecting a year-on-year growth of 0.9%, which was driven by a 2.1% increase in its iSports market share. Additionally, its iGaming market share rose by 0.6%.
Throughout the first nine months, Lottomatica recorded €35.2 billion in bets, marking an 8% increase compared to the previous year. This surge in betting activity contributed to a revenue growth of 5%. Gross Gaming Revenue (GGR) climbed to €3.52 billion, up by 2%, while adjusted EBITDA rose 8% to €665 million.
Operating cash flow for the group improved to €544.9 million, rising from €504 million in the same period of 2025. By the end of September, net financial debt was reported at €2.16 billion. Lottomatica reiterated its guidance for fiscal year 2026, anticipating adjusted EBITDA will fall within the range of €940 million to €980 million.
Guglielmo Angelozzi, CEO of Lottomatica, praised the company's quarterly performance, emphasizing the ongoing growth in online and sports betting sectors. He stated, "The third quarter of 2026 marks another strong quarter for Lottomatica, with double-digit growth in Online and Sports volumes, and in Adjusted EBITDA normalised (+17% YoY at normalised payout). Looking ahead, we remain confident in our growth trajectory, supported by favourable market dynamics, continued execution of our strategy and strong cash flow generation."
The growth in online revenue, which rose 13% year-on-year to €780.82 million, helped to mitigate declines in the sports and gaming franchises. Revenue from the sports franchise fell by 1% to €376.68 million, despite an 11% increase in bets. Lottomatica indicated that if the sports betting payout had been normalized at 80.5% for retail, the franchise's revenue would have shown a 13% increase. Conversely, the gaming franchise's revenue dipped by 2%, totaling €560.28 million.
Lottomatica owns a substantial retail estate, which may be adversely affected by new proposals introduced in Italy’s budget bill for 2027. This bill proposes increasing the PREU machine levy on slots from 24% to 25% starting January 1, as well as increasing the rate for video lottery terminals from 8.6% to 9.6%. However, slots offering at least 70% payouts would qualify for a reduced rate of 20%. Additionally, the maximum stake per slot game would rise to €2, with maximum prizes increasing from €100 to €200.
In his remarks, Angelozzi also highlighted a significant strategic achievement for Lottomatica in the third quarter, namely the announcement of a merger with Cirsa in September. This deal is projected to finalize in the second quarter of next year, establishing Lottomatica as the second-largest publicly traded gaming and sports betting operator worldwide. In its nine-month presentation, the company reported that integration workstreams are already underway, with plans to be fully prepared to implement the integration strategy on the closing day. Lottomatica has secured financing for the merger and is currently seeking additional approvals, with Cirsa scheduling an extraordinary general meeting for November 30.
