SBC News Lottomatica confirms IPO vision hitting 2022 targets  

Lottomatica confirms IPO vision hitting 2022 targets  

The board of Lottomatica SPA has confirmed speculation that “it is reviewing all strategic options” with controlling shareholder Apollo Global. 

The announcement was attached to Lottomatica’s Q4 and FY2022 consolidated results trading update, which underlined the firm’s improved Italian B2C performance following its divestment from IGT Plc in 2021.

Strong close-of-year trading saw Lottomatica achieve Q4 group wagering of €6.7bn, reporting growth across all business units – Online (+18%), Sports Franchise (+17%) and Gaming Franchise (+5%).

Q4 results were boosted by Lottomatica completing its acquisition of Italian online sportsbook Betflag, as the group reports consolidated revenues of €377m (+7%).

Excluding Betflag acquisition costs, Lottomatica anticipates its Q4 EBITDA to stand at circa €115-to-€119m.

The board of Lottomatica highlighted the strategic importance of the firm’s continued online expansion as “a key contributor to the company’s EBITDA growth, accounting for approximately 46% of Q4 2022 EBITDA and 50% pro-forma for the Betflag acquisition.” 

Publishing preliminary results for FY2022, Lottomatica detailed that group wagers would total approximately €22.8bn, with the company set to generate revenues of €1.4bn – results excluding any Betflag contributions.

As such, Lottomatica anticipates its FY2022 EBITDA to stand in the range of €458-€462m. Excluding Betflag acquisition costs, EBITDA would stand at €516-€520m.

 Improved results will strengthen interest in Lottomatica pursuing a Milan IPO in 2023, an outcome reported by Italian media this January.

It was reported that US PE fund Apollo Global had contacted investment banks to price up a €1bn listing of Lottomatica shares on the Milan Borsa. 

The trading update concluded: “The company, together with its controlling shareholder, is currently contemplating potential strategic alternatives to support its future growth, including capital markets transactions such as a potential listing of the shares of the company on a regulated market.”

SBC News Lottomatica confirms IPO vision hitting 2022 targets  

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