Lottomatica Group S.p.A. has released its consolidated financial statements for the nine months ended September 30, 2026, following approval by the Board of Directors in Rome. The company delivered a strong performance characterized by double-digit volume growth in both its online and sports betting segments, continued market share gains, and robust cash generation.
During the first nine months of 2026, Lottomatica collected total bets amounting to €35.2 billion, representing an 8 percent increase compared to the same period in 2025. Growth was particularly pronounced in the Online segment, where bets surged 12 percent year-on-year to €24.2 billion. Total gross gaming revenues (GGR) reached €3,516 million, while total revenues climbed 5 percent reported (and 10 percent at normalized payout) to €1,717.8 million. In the third quarter alone, revenues stood at €537 million, reflecting sustained commercial momentum.
Expanding market share across verticals
Lottomatica further consolidated its market leadership in Italy during the third quarter of 2026. Total online market share expanded by 0.9 percentage points year-on-year to reach 31.7 percent. This was underpinned by strong gains in the iSports vertical, where market share reached 34.8 percent (+2.1 p.p.), and the iGaming vertical, which climbed to 31.2 percent (+0.6 p.p.).
Segment-specific revenue figures for the nine-month period highlighted the continuing shift toward digital channels:
- Online Segment: Revenues rose 13 percent reported (18 percent at normalized payout) to €780.8 million.
- Sports Franchise: Revenues reached €376.7 million, down 1 percent reported due to less favorable sports betting payouts compared to 2025, though up 13 percent on a normalized payout basis.
- Gaming Franchise: Revenues stood at €60.3 million, reflecting a modest 2 percent adjustment compared to the previous year.
Profitability, cash flow, and strategic outlook
Adjusted EBITDA for the first nine months of 2026 reached €665.5 million, an 8 percent increase over 2025, with the adjusted EBITDA margin improving to 38.7 percent. Calculated at normalized payout assumptions, Adjusted EBITDA climbed 19 percent year-on-year to €715.1 million. Operating cash flow remained exceptionally strong at €544.9 million, driven by higher core earnings and disciplined capital expenditure. Meanwhile, net financial debt stood at €2,164 million, maintaining a stable net leverage ratio of 2.4x on LTM run-rate Adjusted EBITDA.
Reflecting on the results, Guglielmo Angelozzi, Chairman and Chief Executive Officer of Lottomatica Group, stated:
“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). We also reached a major strategic milestone with the announced acquisition of CIRSA, which will significantly enhance our scale and future growth opportunities. Looking ahead, we remain confident in our growth trajectory, supported by favourable market dynamics, continued execution of our strategy and strong cash flow generation.”
Supported by these robust metrics, management has confirmed that normalized Adjusted EBITDA for the full fiscal year 2026 is expected to land at the top end of its established guidance range.
