Lottomatica has reported H1 2026 revenue of €1.18bn ($1.34bn), an increase of 5% year-on-year, as continued online growth offset weaker results from its retail-facing franchise segments.
The Italy-focused operator generated €23.68bn in bets during the six months to 30 June, up 9%, while gross gaming revenue increased 2% to €2.41bn.
Adjusted EBITDA rose 10% to €465.3m, with the corresponding margin expanding from 37.4% to 39.4%. Statutory net profit reached €116m, compared with €68.2m in H1 2025, while adjusted net profit increased to €196.5m.
Online remained the principal source of growth. Segment revenue rose 13% to €525.1m, supported by a 12% increase in bets and market share gains across sports betting and iGaming.
Online adjusted EBITDA increased 21% to €303.9m as its margin reached 57.9%, up from 54.1%. The segment accounted for approximately two-thirds of group adjusted EBITDA despite representing less than half of consolidated revenue.
Lottomatica’s total online market share stood at 31.6% during Q2. Its online sports betting share reached 31.8%, while iGaming was also 31.6%.
Lottomatica H1 2026 financial performance
Year-on-year comparison of key H1 financial metrics (€m)
The gains come during a restructuring of Italy’s regulated online market. A new concession system has introduced higher licence costs, stricter technical requirements and limits on the number of domains operated under each concession.
The changes are expected to favour operators able to absorb greater compliance, technology and customer acquisition costs.
Competition has also intensified following Flutter Entertainment’s €2.3bn acquisition of Snaitech in April 2025, which combined Snai with Flutter’s existing Sisal and PokerStars operations in Italy.
Sports Franchise revenue fell 1% to €275.4m following less favourable betting payouts, although revenue would have increased 9% on a normalised basis. Gaming Franchise revenue declined 2% to €380m.
Operating cash flow increased to €385.5m, while net financial debt remained broadly stable at €2.11bn. Net leverage improved from 2.4x at the end of 2025 to 2.3x.
Lottomatica maintained its forecast for 2026 adjusted EBITDA to finish at the top end of its guidance range.
In May, Lottomatica reported Q1 revenue of €602.3m as online bets increased 15% and the operator approved a share buyback programme covering up to 12.5% of its share capital.
Lottomatica returned more than 10% of its market capitalisation to shareholders through dividends and share buybacks between June 2025 and July 2026
