LOTTOMATICA GROUP Reports Q1 2024 Performance Highlights

LOTTOMATICA GROUP S.P.A. has reported robust performance figures for Q1 2024, demonstrating significant growth in bets, revenues, and adjusted EBITDA. Additionally, the company has upgraded its guidance for the fiscal year 2024, reflecting optimism and strategic advancements.

In Q1 2024, total bets amounted to €8.7 bn (£7.4 bn/US$9.3 bn), marking a notable increase of 20% compared to Q1 2023. Online bets experienced remarkable growth, surging by 36% year-on-year. Gross Gaming Revenues (GGR) reached €1,014.2 million, reflecting a 1% increase compared to Q1 2023. Revenues totaled €440.1 million, up by 4% compared to Q1 2023. At normalised payout, revenues surged by an impressive 16%.

Adjusted EBITDA stood at €149.5 million, representing a slight decline of 4% compared to Q1 2023. However, at normalised payout, adjusted EBITDA soared by 23%. The Online segment demonstrated robust growth, with revenues reaching €150.4 million, marking a substantial increase of 21% compared to Q1 2023. Despite a 15% decrease in revenues in the Sports Franchise segment, Q1 2024 revenues grew by 11% at normalised payout. The Gaming Franchise segment reported revenues of €195.3 million, reflecting a commendable increase of 4% compared to Q1 2023.

LOTTOMATICA GROUP S.P.A. has upgraded its guidance for FY 2024, anticipating revenues in the range of €2,020 to 2,065 million and adjusted EBITDA of €680 to 700 million. The revised guidance includes an 8-month contribution from SKS365, with implied FY 2024 adjusted EBITDA for SKS365 estimated at approximately €80 million, reflecting a growth trajectory compared to FY 2023.

Bets across various segments witnessed substantial growth, with the Online segment leading the surge with a remarkable 36% increase. Revenues showcased consistent growth, particularly in the Online segment, which saw a strong double-digit performance. Adjusted EBITDA, although experiencing a slight decline, demonstrated resilience and surged significantly at normalised payout.

In conclusion, LOTTOMATICA GROUP S.P.A.’s Q1 2024 performance underscores its strong position in the iGaming industry, with strategic initiatives and growth prospects driving optimism for the fiscal year ahead.

Guglielmo Angelozzi, Chief Executive Officer of Lottomatica Group, commented: “In the first quarter of 2024 we have continued our path of organic growth, also supported by solid market tailwinds, with Revenues and EBITDA achieving double digit growth YoY (at normalised payout). We have successfully completed the acquisition of SKS365 in April 2024, therefore upgraded the guidance, and continue to execute on our strong pipeline of bolt-on M&A.”

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