Lottomatica Group reported €1.718bn ($1.922bn) in revenue for the first nine months of 2026, up 5% year-on-year, as online growth offset weaker retail franchise revenue.
The Italian gambling operator said online revenue increased 13% to €780.8m, accounting for about 45% of its management segment revenue measure.
Online adjusted EBITDA rose 17% to €442.9m, representing roughly two-thirds of group adjusted EBITDA.
Its share of Italy's online gambling market reached 31.7% in Q3, up 0.9% year-on-year. The quarterly shares were 34.8% in online sports betting and 31.2% in online gaming, with both increasing from the prior-year period.
Total stakes across the business grew 8% to €35.2bn. Online stakes rose 12% and sports franchise stakes rose 11%, though the latter segment's revenue fell 1% to €376.7m.
Lottomatica attributed the difference mainly to less favourable sports betting payouts. Gaming franchise revenue declined 2% to €560.3m.
Lottomatica segment revenue, 9M 2025 vs 2026 (€m)
Management segment revenue for the nine months ended 30 September, in €m.
Group adjusted EBITDA reached €665.5m for the nine months, up 8%, with the margin rising to 38.7% from 37.6%. Statutory net profit after tax was €155.3m, an increase of about 58%. Operating cash flow rose 8% to €544.9m.
Q3 revenue reached €537m, up 5%, and adjusted EBITDA was €200m, up 3% on a reported basis. Under Lottomatica's normalised betting payout assumptions, quarterly adjusted EBITDA would have been €234m, 17% higher year-on-year.
The company maintained its 2026 outlook and expects normalised adjusted EBITDA at the upper end of its existing guidance range.
The €1.718bn revenue figure reflects management's segment reporting, which includes Sportbet and Bgame in Online and Cristaltec and Agesoft in Gaming Franchise. The statutory income statement records €1.687bn in revenue under a different accounting scope.
Lottomatica is also pursuing its planned all-share merger with Cirsa. Both boards approved a common merger plan in October, while shareholder votes and regulatory clearance remain outstanding. Completion is targeted for the second quarter of 2027.
A year earlier, Lottomatica reported 16% nine-month revenue growth, a faster rate than the 5% recorded in the latest comparable period.
Lottomatica's nine-month gross gaming revenue reached €3.516bn, up 2%
