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Making lemonade from lemons, Italian lotto operator Sisal--a leading contender in the race to win the new licence to run the UK lottery--has reported revenue of €459.8 million for the nine months ending September 30 this year (£391.2m/US$522m).
Sisal’s revenue thus surged 23.2 per cent over the period, compared to the same three-quarters of Covid pandemic-hammered 2020.
“[Last year was] marked by compelling challenges, but also by even greater opportunities for the whole sector,” said Sisal CEO Francesco Durante.
“[The] results confirm the soundness of our choices and let us look at the market with confidence and awareness of the excellent progress we have made on the three core principles of our growth strategy – sustainability, digitalisation and internationalisation.”
Sisal’s iGaming division emerged as a big winner during the nominated time frame. The vertical’s revenue almost doubled, year-on-year, to €185.6 million (£157.9m/US$210.7m).
Online betting, was boosted by over 110 per cent, pulling in €93.8 million (£79.8m/US$106.5m). And revenue from online casino rose over 90 per cent to €77 million (£65.5m/US$87.4m).
But retail revenue, year-on-year, in keeping with the inexorable shift to iGaming in the Covid era, fell by 25.3 per cent to €196.8 million (£167.5m/US$223.4m).
Sisal’s international revenue, meanwhile, saw spectacular growth of nearly 515 per cent to €77.3 million (£65.8m/US$87.8m), principally from Turkey, where Sisal operates the Milli Piyango national lottery.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) for the nine months totalled €103.1 million (£87.7m/US$117m). The company paid €67.7 million in income tax (£57.6m/US$76.9m) and recorded a loss of €8.4 million on financial items (£7.1m/US$9.5m).