Lottomatica reports Q3 growth and Italian market share gains as CIRSA merger vote nears
Lottomatica raised its Italian online market share to 31.7% in Q3 2026 and posted higher revenue and EBITDA. Shareholders of Lottomatica and CIRSA vote on the all-share merger on 30 November.
GamblingSource: SBC News
Lottomatica has reported a solid third quarter of 2026 and reinforced its position as Italy's biggest gambling operator, as it prepares to complete its all-share merger with Spain's CIRSA. The Milan-listed group says its share of the Italian online betting sector stood at 31.7% at the end of Q3. Its online sports betting share rose 2.1 points to 34.8%, while its iGaming share gained 0.6 points to 31.2%.
Revenue for the first nine months of the year increased 5% year on year to €1.71bn, and third-quarter revenue also grew 5% to €537m. Gross gaming revenue across January to September rose 2% to €3.5bn. Adjusted EBITDA climbed 8% year to date to €715m and 3% in the quarter to €200m. Net financial debt reached €2.16bn in September, compared with €2.1bn a year earlier.
Chairman and CEO Guglielmo Angelozzi described the quarter as another strong one, pointing to double-digit growth in online and sports volumes. He said the announced CIRSA acquisition would significantly increase the group's scale and future growth opportunities, and that he remained confident in the company's growth trajectory.
The results show a split between the online and retail segments. Online revenue grew 13% to €781m year to date, including €256m in Q3. The sports betting franchise fell 1% to €377m year to date and €101m in the quarter, while the gaming franchise fell 2% to €560m year to date and €180m in Q3. Lottomatica linked the online strength to the positive performance of the Italian online market and its share gains, while retail sports betting was hit by a higher payout rate.
Regulation has played a part in the divergence. A new licensing framework for online gaming has given that market more stability, whereas land-based regulation remains unresolved after Prime Minister Giorgia Meloni declined to approve a reorganisation of retail gaming rules in the 2027 budget.
Italian banks Intermonte and Banca Akros expect the 2027 budget to have a limited effect on Lottomatica. The draft proposes a 1% tax increase on AWP machines, alongside higher maximum stakes of €2 and prize limits of €200, subject to parliamentary approval. Intermonte estimates concession-related capital expenditure of about €90m to €100m a year from 2027 to 2029. Shareholders of both companies vote on the final merger plans on 30 November.
Based on reporting by SBC News.