Lottomatica highlights Italy dominance with FY24 record
Italian gambling conglomerate Gruppo Lottomatica SPA has broken down its corporate financial records after completing a strong year of trading in 2024.
FY2024 Adjusted EBITDA exceeded shareholder expectations, with €739m surpassing the previous guidance of €730m. This also constituted a 24% YoY increase from 2023 results (€706m).
Online, sports, and gaming segments spearheaded a total betting volume of €39bn for the Milan Exchange-traded firm.
Lottomatica also raked in more than €2bn in gross gaming revenue (GGR) in 2024, which is a first-time record for the company and a noticeable uptick from the €1.65bn for the full 2023.
Top GGR was generated by Lottomatica’s online gaming segment, which has become the largest revenue driver for the company to date.
The 50% increase in online GGR (€780m) was successfully achieved through the acquisition of Italian betting firm SKS365Group and the addition of the Planetwin365 platform to its online roster. Further strategic M&A movement also saw the acquisition of Cristaltec SPA and Distante SRL.
Additionally, retail trading saw the sports franchise returning a total of €460m GGR (up 22% YoY), while the gaming segment marked a 3% YoY increase for a total of €763m.
Lottomatica 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 FY24 trading ended with adjusted net profit of €254m, accompanied by an Operating Cash Flow of €557m. Group Net Financial Debt was capped at €1.8bn, constituting a 2.4x leverage ratio on run-rate Adjusted EBITDA.
The company has continued to establish its dominance across the Italian market, with Q4 2024 market share topping 30.9%. In addition, Lottomatica’s iSports segment (including sports betting) saw a 32.3% growth, while iGaming (online casino and gaming) topped 30.6% growth.
Angelozzi concluded: “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.
“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.”
Lottomatica’s FY2025 outlook includes revenue projection of between €2.32bn-€2.37bn, together with €840m-to-€870m in Adjusted EBITDA.
https://lotterydaily.com/2025/03/04/retail/lottomatica-italy-fy24-record/