Lottomatica posts record Italian online market share in Q3

Lottomatica has reported a record 32.4% share of Italy's online betting and gaming market in September, part of a nine-month period in which group revenue climbed to €1.72 billion, according to results released on Tuesday and reported by iGaming Business.

Across the third quarter of 2026, the operator's average online market share reached 31.7%, up 0.9 percentage points year-on-year. Lottomatica attributed the gain to a 2.1 percentage point rise in its iSports share and a 0.6 percentage point increase in iGaming.

Bets placed with the group totalled €35.2 billion over the first nine months of the year, an 8% increase, while gross gaming revenue rose 2% to €3.52 billion. Adjusted EBITDA grew 8% to €665 million, and operating cash flow rose to €544.9 million from €504 million in the same period of 2025.

By the end of September, the group's net financial debt had reached €2.16 billion. Lottomatica stood by its guidance for the full year, saying adjusted EBITDA should come in near the upper end of a range it had previously set between €940 million and €980 million.

Chief executive Guglielmo Angelozzi said the third quarter had delivered "double-digit growth in Online and Sports volumes, and in Adjusted EBITDA normalised (+17% YoY at normalised payout)", adding that the group remained "confident in our growth trajectory, supported by favourable market dynamics, continued execution of our strategy and strong cash flow generation".

Performance varied across Lottomatica's divisions. Over the nine-month period, the online division's revenue climbed 13% year-on-year to reach €780.82 million. The sports betting franchise, however, saw revenue fall 1% to €376.68 million despite an 11% rise in bets, as payouts to players ran favourably for customers. Lottomatica said that at a normalised retail sports betting payout of 80.5%, the franchise's revenue would instead have grown 13%. The gaming franchise recorded revenue of €560.28 million, down 2%.

Lottomatica's large retail presence means it is likely to feel the effects of tax changes proposed in Italy's 2027 budget bill, submitted to parliament earlier this week. The bill would raise the PREU levy on slot machines from 24% to 25% from 1 January, while video lottery terminals would see their rate climb from 8.6% up to 9.6%. Slot machines paying out at least 70% of stakes in prizes would instead face a reduced 20% rate. Operators would also be able to accept stakes of up to €2 per slot game, twice the current limit, and the maximum prize would rise from €100 to €200.

Angelozzi described the September announcement of Lottomatica's merger with Cirsa as a "major strategic milestone" for the group during the quarter. The combination is expected to close in the second quarter of next year, and the companies have said the merged business would rank as the world's second-largest listed gaming and sports betting operator.

In its nine-month presentation, Lottomatica said integration workstreams for the deal were already fully operational, with a plan to be fully prepared to begin executing the integration on the day the transaction closes. The company said financing for the merger had been secured, with the next step being further regulatory approvals. Cirsa has called an extraordinary general meeting for 30 November.