Lottomatica's core profit rises 3%, aided by online and sports betting growth
Nov 3 (Reuters) - Italian betting firm Lottomatica LTMC.MI reported 3% growth in its third-quarter adjusted core profit on Tuesday, thanks to double-digit growth in online and sports betting volumes.
The Rome-based company operates primarily in Italy, the largest regulated gambling market in Europe. This is the first round of results since it proposed a merger with Spanish peer Cirsa CIRSA.MC through a €2.8 billion ($3.1 billion) acquisition in September.
"We remain confident in our growth trajectory, supported by favourable market dynamics, continued execution of our strategy and strong cash flow generation," CEO Guglielmo Angelozzi said
Its adjusted EBITDA was €200 million, broadly in line with a company-provided consensus cited by Equita
Quarterly revenue rose 5% to €537 million, while consensus stood at €534.8 million
Total bets grew 8% to €35 billion in the first nine months of 2026; online bets grew 12% and sports franchise bets 11%
Lottomatica confirmed its full-year guidance, seeing adjusted core profit at the top end of the €940-980 million range
Cirsa has called an extraordinary general meeting on November 30 for shareholders to approve the merger
($1 = 0.8937 euros)