Lottomatica reports record first-quarter revenue up 23%

Finance News

Lottomatica Group, the leading Italian operator in the legal gaming market, has announced the H1 2024 financial results, revealingcontinued growth and a significant increase in market share, which has reached an all-time high in both Q2 and June.

On the back of a strong performance in Q2 – and of the seamless integration of SKS365, with 40% of the synergies announced already secured – the Group has also revised upwards its guidance for FY 2024.

Updated guidance for FY 2024, including: revenues of €2,030 – 2,080 million (from €2,020 – €2,065 million) and adjusted EBITDA of €700 – 730 million (from €680 – €700 million)

Bets of €18.0 billion, +23% compared to H1 2023. Revenues of €931.8 million, +20% compared to H1 2023 at normalised payout. Adjusted EBITDA of €317.3 million, +21% compared to H1 2023 at normalised payout. Adjusted Net Profit of €105.3 million in H1 2024 (please, note that net profit is slightly down from H1 2023 due to early amortisation of concession fees).

Guglielmo Angelozzi, Chief Executive Officer of Lottomatica Group, commented: “In the second quarter of 2024 we have continued our path of organic growth, supported by solid market share gains in Online leading to a sustained double-digit growth in Revenues and EBITDA.

We have successfully completed the acquisition of SKS and are progressing with the integration at a fast pace, having secured to date c. 40% of the synergies announced. Also, we have opportunistically refinanced notes worth euro 900 million in May resulting in material interest savings. In light of the strong performance, the delivery in cost synergy realisation, and expected bolt-on acquisitions, we upgrade our Guidance for FY 2024”.

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