Lottomatica has reported Q1 2026 revenue of €602.3m ($686.6m), up 3% year-on-year, as online growth offset weaker sports franchise revenue and flat gaming franchise performance.
The Italy-focused operator generated €12.41bn in total bets during the three months to 31 March, an 11% increase. Gross gaming revenue rose 2% to €1.25bn.
Online remained the main driver of growth. Segment revenue increased 10% to €264.7m, while online bets rose 15% to €8.49bn.
Lottomatica said the performance reflected broader market growth and market share gains across its brands, although sports betting payout was less favourable than in the same period last year.
The group ended Q1 with total online market share of 31.8%, up 1.4%. Its online sports betting share reached 32.5%, while iGaming share rose to 32.2%.
The results come as Italy’s online gambling sector moves through a new licensing cycle under ADM oversight, with higher concession costs and tighter compliance requirements expected to reduce the number of active operators.
That backdrop gives scale operators a clearer advantage in marketing, technology and compliance investment.
Lottomatica’s PWO brand, created after the acquisition of SKS365, also showed signs of recovery following its migration to the group’s proprietary platform.
PWO iGaming market share reached 5.5% in Q1, compared with a 5.0% trough in August 2025, while total sports share returned to pre-migration levels at 9.0%.
Sports franchise revenue fell 5% to €142.4m, despite a 12% rise in total sports bets. Gaming franchise revenue was broadly flat at €195.1m.
Adjusted EBITDA rose 7% to €235.5m, or €253m on a normalised payout basis. Adjusted net profit increased 12% to €106m, while statutory net profit attributable to the group reached €66.5m, up 32%.
Lottomatica now expects FY 2026 adjusted EBITDA to finish at the top end of its €940m to €980m guidance range.
The operator also approved a share buyback programme covering up to 12.5% of share capital, with up to €1bn to be returned to shareholders across 2026 and 2027.
In November 2025, Lottomatica’s Q3 2025 revenue reached €511.3m, with year-to-date revenue up 16% as online remained the group’s main growth driver.
Lottomatica reported net financial debt of €2.05bn at the end of Q1, equivalent to 2.3x last-12-month run-rate adjusted EBITDA