Lottomatica Posts Strong 9M 2026 Results Driven by Online and Sports Growth

Lottomatica Group S.p.A. reported consolidated results for the nine months ended 30 September 2026, with total bets of €35.2 billion, up 8% year-on-year, and marked double-digit growth in online and sports betting volumes. The group said online bets rose 12% year-on-year to €24.2 billion, while total gross gaming revenues (GGR) reached €3,516 million and total revenues were €1,717.8 million (up 5% reported, 10% at normalized payout).

Volume, revenue and channel mix

Total bets for the period amounted to €35.2 billion, an 8% increase versus the first nine months of 2025. The Online segment led the expansion: online bets increased 12% year-on-year to €24.2 billion. Lottomatica reported total GGR of €3,516 million for the nine months and total revenues of €1,717.8 million. Revenues in the third quarter alone were €537 million.

Segment revenue detail for the nine months shows the shift toward digital channels:

• Online Segment: revenues rose 13% reported (18% at normalized payout) to €780.8 million.

• Sports Franchise: revenues reached €376.7 million, down 1% reported because of less favourable sports betting payouts versus 2025, but up 13% on a normalized payout basis.

• Gaming Franchise: revenues were €60.3 million, a 2% adjustment compared to the prior year.

Market share gains

Lottomatica said it consolidated market leadership in Italy in Q3 2026. Total online market share expanded by 0.9 percentage points year-on-year to 31.7%. Within verticals, iSports market share climbed to 34.8% (+2.1 p.p.) and iGaming reached 31.2% (+0.6 p.p.). The company also noted sports franchise bets rose 11% year-on-year, with a 15% increase recorded in Q3 alone.

Profitability, cash flow and balance sheet

Adjusted EBITDA for the nine months was €665.5 million, an 8% increase over 2025, with an adjusted EBITDA margin of 38.7%. Under normalized payout assumptions, Adjusted EBITDA rose 19% year-on-year to €715.1 million. Operating cash flow stood at €544.9 million, and net financial debt was €2,164 million, sustaining a net leverage ratio of 2.4x on LTM run-rate Adjusted EBITDA.

"The third quarter of 2026 marks another strong quarter for Lottomatica, with double digit growth in Online and Sports volumes, and in Adjusted EBITDA normalised (+17% yoy at normalised payout)," said Guglielmo Angelozzi, Chairman and Chief Executive Officer of Lottomatica Group.

Management reiterated that, supported by these metrics, normalized Adjusted EBITDA for the full year 2026 is expected to land at the top end of its established guidance range. The company also referenced the announced acquisition of CIRSA as a major strategic milestone it believes will enhance scale and future growth opportunities.

Commercial momentum and outlook

Revenues of €537 million in Q3 reflect sustained commercial momentum, the company said. Management highlighted disciplined capital expenditure as a driver of strong operating cash flow. The reported figures and guidance position Lottomatica to close the year with normalized Adjusted EBITDA at the top end of its guidance range provided earlier in 2026.