Lottomatica posts 9M 2026 results: €35.2bn in bets and strong online growth

Lottomatica Group S.p.A. announced its consolidated financial statements for the nine months ended 30 September 2026, delivering volume growth and solid operational results. The group reported total bets of €35.2 billion in the first nine months of 2026, an 8% increase versus the same period in 2025, and total GGR of €3,516 million.

Nine-month results

Key figures for the period show a mix of volume growth and cash generation. Online bets reached €24.2 billion, representing 12% year-on-year growth. Total revenue amounted to €1,717.8 million, up 5% reported and 10% on a normalized payout basis. In the third quarter, revenue was €537 million.

Growth by vertical and market share

The momentum came mainly from the digital segment and sports betting. Total online market share rose 0.9 percentage points year-on-year to 31.7% in the third quarter. Within verticals:

• iSports reached a share of 34.8%, an increase of 2.1 percentage points;

• iGaming recorded a share of 31.2%, up 0.6 percentage points.

Segment revenue in the nine months reflected the shift to digital channels: the Online segment billed €780.8 million, an increase of 13% reported and 18% on a normalized payout basis. The Sports Franchise recorded revenue of €376.7 million, down 1% reported due to payout adjustments versus 2025 but up 13% on a normalized payout basis. The Gaming Franchise posted revenue of €60.3 million, a 2% variation versus the prior year.

Profitability and cash generation

Adjusted EBITDA for the nine months was €665.5 million, an 8% increase versus 2025, with an adjusted EBITDA margin improving to 38.7%. Calculated on normalized payout assumptions, adjusted EBITDA was €715.1 million, a 19% year-on-year increase. Operating cash flow remained strong at €544.9 million, supported by higher underlying earnings and disciplined capital expenditure.

Net financial debt stood at €2,164 million, with a stable net leverage ratio of 2.4x on adjusted EBITDA run-rate LTM.

"The third quarter of 2026 marks another solid quarter for Lottomatica, with double-digit growth in Online and Sports volumes, and in normalized adjusted EBITDA (+17% year-on-year on a normalized payout). We also reached a strategic milestone with the announced acquisition of CIRSA," said Guglielmo Angelozzi, Chair and CEO of Lottomatica Group.

Management confirmed that normalized adjusted EBITDA for the 2026 fiscal year is expected at the upper end of the previously provided guidance range.

Strategic outlook

The company positions the announced acquisition of CIRSA as a factor that will expand scale and future growth opportunities. The combination of rising market shares in iSports and iGaming, together with strong cash generation, supports the annual guidance confirmed by management.