GBAF Logo
Global Banking & Finance Awards® 2026 Nominations open, free to enter Nominate now →
Lottomatica's core profit rises 3%, aided by online and sports betting growth - Finance news and analysis from Global Banking & Finance Review
Finance

Lottomatica's core profit rises 3%, aided by online and sports betting growth

Published by Global Banking & Finance Review

Posted on November 3, 2026

2 min read

· Last updated: November 3, 2026

Add as preferred source on Google

Lottomatica Q3 Core Profit Rises on Online and Sports Betting Growth

Third-Quarter Financial Performance and Strategic Developments

Q3 Profit and Revenue Highlights

Nov 3 (Reuters) - Italian betting firm Lottomatica reported 3% growth in its third-quarter adjusted core profit on Tuesday, thanks to double-digit growth in online and sports betting volumes.

The Rome-based company operates primarily in Italy, the largest regulated gambling market in Europe. This is the first round of results since it proposed a merger with Spanish peer Cirsa through a €2.8 billion ($3.1 billion) acquisition in September.

Executive Commentary

• "We remain confident in our growth trajectory, supported by favourable market dynamics, continued execution of our strategy and strong cash flow generation," CEO Guglielmo Angelozzi said

Key Financial Metrics

• Its adjusted EBITDA was €200 million, broadly in line with a company-provided consensus cited by Equita

• Quarterly revenue rose 5% to €537 million, while consensus stood at €534.8 million

Growth in Betting Volumes

Total and Online Bets

• Total bets grew 8% to €35 billion in the first nine months of 2026; online bets grew 12% and sports franchise bets 11%

Full-Year Guidance

• Lottomatica confirmed its full-year guidance, seeing adjusted core profit at the top end of the €940-980 million range

Merger with Cirsa

Shareholder Approval Process

• Cirsa has called an extraordinary general meeting on November 30 for shareholders to approve the merger

Exchange Rate Information

($1 = 0.8937 euros)

Reporting Credits

(Reporting by Romolo Tosiani in Gdansk; Editing by Milla Nissi-Prussak)

Key Takeaways

  • Q3 adjusted core profit up 3%, supported by double‑digit increases in online and sports betting volumes.
  • Revenue rose 5% to €537m (€534.8m consensus); adjusted EBITDA ~€200m, in line with expectations.
  • Total bets in first 9M 2026 grew 8% to €35bn, with online bets +12% and sports franchise bets +11%; full‑year profit guidance reiterated.
  • Merger with Spanish peer Cirsa proceeding—extraordinary shareholder meetings for approvals scheduled in November; deal aims for Q2 2027 completion.
  • Lottomatica strengthens market leadership amid favourable market trends and pursuing shareholder returns post‑merger, with anticipated synergies boosting margins and cash flow.

Frequently Asked Questions

What drove Lottomatica's core profit growth in the third quarter?
Double-digit growth in online and sports betting volumes drove Lottomatica's 3% core profit rise.
How much did Lottomatica's quarterly revenue increase?
Quarterly revenue rose 5% to €537 million, surpassing consensus expectations.
What is the significance of Lottomatica's merger proposal with Cirsa?
Lottomatica has proposed a €2.8 billion merger with Cirsa, marking its first results since the announcement.
Did Lottomatica confirm its full-year profit guidance?
Yes, Lottomatica confirmed its full-year guidance, expecting adjusted core profit at the top end of €940-980 million.
When is Cirsa's extraordinary general meeting to approve the merger?
Cirsa has scheduled an extraordinary general meeting for November 30 to approve the merger.

Tags

Related Articles

More from Finance

Explore more articles in the Finance category