Italy’s Lottomatica reports record first-quarter results

Finance News

Lottomatica reported higher net profit and revenues in the first quarter as it confirmed its guidance for 2023, the Italian gambling firm said on Tuesday.

Net profit in the first three months of the year came in at 46.4 million euros ($51.1 million), compared with 34.6 million a year earlier, while revenues rose to 424.8 million euros from 355.7 million.

Lottomatica reiterated its forecasts for 2023 of revenues of between 1.57-1.7 billion euros, with adjusted earnings before interests, taxes, depreciation and amortization (EBITDA) are seen in a range of 550-570 million euros.