SBC News Voice of the Sports Betting Industry
Gruppo Lottomatica SPA, has declared 2024 an outstanding year, solidifying its position as Italy’s leading largest gambling business (retail and online).
Publishing its full-year accounts, the company exceeded expectations with an Adjusted EBITDA of €739m surpassing its FY2024 guidance of €730m, marking a 24% year-on-year increase from the 2023 figure of €706m.
Concluding its first full year on the Milan Exchange (IPO March 2023), Lottomatica recorded a betting volume of €39bn, driven by strong performance across its online, sports, and gaming franchise segments.
Peak wagering saw Lottomatica surpass the €2 billion Gross Gaming Revenue (GGR) milestone for the first time, a significant improvement from the €1.65 billion recorded in FY2023.
The company’s online division now its biggest revenue driver, reporting a 50% increase in online GGR to €780m, as its business is enlarged having completed its acquisition of SKS365 Group, and adding Planetwin365 to its online portfolio
Retail trading remained strong, with the sports franchise segment generating GGR of €460m, reflecting a 22% year-on-year growth, while the gaming franchise segment contributed €763m, marking a 3% increase from the previous year.
Group CEO Guglielmo Angelozzi, commented: “2024 marked an outstanding year for our Group, in which we consolidated our leadership position across all segments and brands. We exceeded expectations set at the beginning of the year and subsequent upgrades, with revenues of €2.04bn and Adjusted EBITDA of €739m. We continued to grow both organically and through M&A, with the acquisition of PWO and executing our bolt-on strategy.
Lottomatica’s financial position remains robust, with an Adjusted Net Profit of €254m and Operating Cash Flow of €557m. The company’s Net Financial Debt stands at €1.8bn equivalent to a leverage ratio of 2.4x on run-rate Adjusted EBITDA.
Year trading saw further strategic M&A, as Lottomatica acquired the new tech assets Cristaltec SPA and Distante SRL, strengthening its presence in the gaming technology sector.
Lottomatica continues to expand its dominance in the Italian market, achieving all-time high market shares across its segments.
Total online market share reached 30.9% in Q4 2024, increasing by one percentage point from the previous quarter. The iSports segment, which includes sports betting, grew to 32.3%, while iGaming, which encompasses online casino and gaming, climbed to 30.6%.
Looking ahead, Lottomatica has set ambitious targets for FY2025, with revenue projections between €2.32bn and €2.37bn and an expected Adjusted EBITDA range of €840m-to-€870m.
The company has proposed a dividend payout of €0.30 per share and has sought authorisation for a share buyback of up to 10% of its total share capital.
CEO Guglielmo Angelozzi emphasised the company’s commitment to further innovation, strengthening its omni-channel business model, and maximising shareholder returns through strategic acquisitions and capital allocation of a stronger balance sheet
“Our objectives for 2025 are to strengthen our leadership position in all segments through product and technology innovation, further develop the omnichannel model while managing efficiently the retail to online transition that is occurring in the market,” Angelozzi concluded.
“In light of our strong balance sheet and cash flow generation, we requested the authorisation for a buyback in order to have an additional tool readily available for capital returns, which will compete for excess cash with M&A and other capital allocation opportunities, with a view to maximise shareholder returns.”
