Providing a solid bedrock for the Q4 acquisition of BetFlag, Lottomatica recorded year-to-date revenue of over €1bn as of September 2022.
As reported in the multinational betting and gaming group’s consolidated interim trading report, this marks a 100% increase on September 2021’s YTD revenue of €462.5m.
On the other hand, EBITDA stood at €129.1m, a 12.7% increase on 2021’s €71.5m, whilst net profit for the nine-month period was €83.7m, a growth rate of 8% from €67.8m.
A segment breakdown saw the group’s sports betting and retail gaming division, labelled in the interim report as the ‘Sports Franchise’, register revenue of €3m, up with very little change on the previous year.
The group explained that its sports unit benefited from June’s acquisition of Lottomatica Scommesse, which it stated ‘contributed to a significant increase in the number of rights held and the number of active points of sale’ after being merged with GoldBet (GBO SPA).
Figures behind this saw 2,774 active points of sale, down slightly on 2021’s 2,800, with total betting turnover on sports for the past nine months standing at €1.7bn, up 170% on 2021’s €508m.
For online operations, the Lottomatica Scommesse was also cited as a key performance driver, with total betting volume for this sector increasing by 37% to €6.3m (2021:
Success in this area was primarily driven by casino games, with revenue for these products increasing by 36% from €3bn to €4.7bn, along with a number of other factors.
These included unification of Lottomatica’s gaming platform for both its flagship Lottomatica and GoldBet brands, an increase in the number of casino games, and a review of its CRM strategy accompanied by implementation of new customer retention and reactivation activities.
Additionally, the group stated it had made graphic and functional improvements to its app, included virtual games as part of its sports offering, and optimised acquisitions from its retail channels through new marketing operations.
Lastly, the group explained that its costs of services rose by 49% from €322.5m to €637.9m, attributed to compensation paid to its distribution network, which amounted to €449.7m.
Following the close of Q3 in September, Lottomatica moved forward with regional expansion by acquiring BetFlag Italia for €310m, in a transaction undertaken by GBO SPA.
The purchase was sought out to “consolidate Lottomatica’s presence in Italy’s online gambling market” by “strengthening its position in the online casino games sector”.