Italian gambling supergroup Lottomatica has delivered an outstanding Q1, its best ever, with total revenue up 33.1 percent, year-on-year, to €585.7 million (£498.61m) and its online returns surging by a stunning 59 percent.
This iGaming-powered growth saw net profit rise by 72 percent to €51.5 million (£43.84m) and adjusted EBITDA increase 47 percent to €220.5 million (£187.73m).
The group’s online betting volume increased by 46 percent in the quarter, ending March 31; generating a handle of €7.36 billion (£6.26m) that delivered €239.8 million in revenue (£204.18m).
These impressive results have affirmed Lottomatica’s position as the dominant force in Italian gambling. Founded in 2019, it has now cornered around 30 percent of national gambling action across all three major metrics: online, sports and retail gaming.
Debt Burden
The group’s recent €1.1 billion (£936.12m) debt refinancing deal is designed to save some €24 million (£20.42m) in annual interest payments, and the company is now planning to start an 18-month €500 million share buy-back programme, starting this June (£425.47m).
“We have started the year on an excellent note, recording our best-ever first quarter results and paving the way for a successful 2025,” asserted Lottomatica Group CEO Guglielmo Angelozzi, as he announced the buy-back decision.
“Market trends support our organic growth path and we feel confident about the strength of our business, also in the current macroeconomic environment.”
Angelozzi also confirmed that the group is well on target to hit its Full Year 2025 guidance of between €840 million to €870 million (£714.33m-£739.8m) EBITDA.
