Lottomatica revenue jumps to €1.03bn

Finance News

Revenue of the Italian gambling company Lottomatica S.p.A. bounced back in 2021, after falling sharply in 2020 due to the coronavirus (COVID-19) pandemic.

Revenue for the nine-month period ended 30 September, was up 122 per cent to €1.03bn.

In 2021, the firm reported the highest revenue from the gaming machines segment, generating nearly 509 million euros. That year, the company’s total earnings amounted to over 941 million euros, increasing by 27.5 percent from 2019.

Sustained organic growth and acquisition of Betflag, leading online operator in Italy: Cash consideration of €310M plus net debt/cash at closing, corresponding to 8.6x EV/EBITDALTM (excluding synergies), plus earn-out of up to €50M subject to 2023 performance. Financed through €350M Bond issued on September 27, 2022. Online represents 49% of EBITDA in Q3’22 (pro forma for the Betflag acquisition).

EBITDA+27%, Sports Franchise Ebitda + 22%. Cash balance equal to €159M and net leverage decreased to 2.5×1 (including payment of €125M in July, last tranche of the deferred consideration for the acquisition of the IGT assets).