Record quarter for Lottomatica as online drives revenue up 33%

Finance News

Lottomatica Group and together with its subsidiaries the), the holding company of Lottomatica S.p.A, the largest player in the Italian gaming market based on revenues, announces that on 15 May 2023 its Board of Directors approved the interim condensed consolidated financial statements for the three months ended 31 March 2023.

Bets of €7.3 billion, a 33% increase compared to the same period in 2022. The Online segment has benefited from the acquisition of Betflag, which has contributed to a significant increase in the group’s online gaming offering, generating bets of €1.0 billion for the three months ended 31 March 2023.

Adjusted net profit was €63 million, a 36% increase compared to the same period in 2022.

Guglielmo Angelozzi, Chief Executive Officer of Lottomatica Group, commented: “We started the year with a record performance, continuing in April and providing the base for a solid performance in 2023. All of our segments increased revenues and contributed to growth in Adjusted EBITDA, with online breaking previous records in terms of market share and key performance indicators across all our brands. This is also thanks to the turnaround of and, which we migrated to our technology and product stack last summer.

Also, with the recently completed initial public offering and the upgrade of our company’s corporate ratings by Standard & Poor’s to BB- from B, and by Moody’s to Ba3 from B1, we are ready to start a new exciting phase of our journey of sustainable growth. I want to express my gratitude to all the colleagues for these tremendous results, achieved thanks to their incredible dedication and efforts.”