Lottomatica H1 revenue jumps 15% amid online market share increase
Milan-listed Italian giant increases full-year 2023 guidance following strong opening six months of the year
Lottomatica has posted a 15% pro forma year-on-year (YoY) increase in revenue for H1 2023 to €820.1m as the group’s online operations continue to perform well.
Online revenue jumped 27% on a pro forma basis to €246.9m, with the operator noting pro forma being calculated as if its acquisition of Betflag occurred on 1 January 2022.
Lottomatica said the increase in online was driven by increased market share across all segments and brands.
The Italian giant reported online sports market share of 19% in Q2, up 1.7 percentage points versus full-year 2022, while igaming market share increased 3.3 percentage points to 20.5%.
The firm also championed the tech migration in Q3 2022, along with an improved omnichannel offering for the growth.
Elsewhere, retail sports revenue jumped 18% to €204.9m while retail gaming revenue rose 7% to €368.2m.
Adjusted EBITDA leapt 19% to €298.8m during the first six months of the year, with a corresponding margin of 36.4%.
Total stakes during the reporting period increased 20% to €14.6bn.
Following the disclosure of the H1 performance, Lottomatica also increased its guidance for its fiscal year 2023.
The operator is now expecting to post revenue of between €1.63bn and €1.69bn, up from €1.57bn to €1.67bn.
The Milan-listed firm also raised its adjusted EBITDA range from €550m-€570m to €570m-€590m, with 50% of EBITDA coming from online operations.
Guglielmo Angelozzi, Lottomatica CEO, said: “We reported another quarter of strong double-digit growth, mainly driven by our online segment where we consolidated our leadership and continued to gain market share across all divisions and brands.
“These results are a testament to the sound execution of our strategy and the successful implementation of the turnaround of the Better and Lottomatica.it brands.
“In light of the performance of the first six months of the year, we raised our guidance for fiscal year 2023. We will continue to focus on growing our business and on the implementation of key strategic initiatives, leveraging our product, technology and talent,” he added.