Connect with us

Latest News

FIRST NINE MONTHS AT €1.2BN REVENUES AND €426M EBITDA, WITH SOLID Q3 RESULTS DRIVEN BY THE INCREASE IN THE ONLINE MARKET SHARE ACROSS ALL PRODUCT SEGMENTS AND BRANDS. 2023 GUIDANCE CONFIRMED.

Published

on

Reading Time: 4 minutes

 

The Board of Directors of Lottomatica Group S.p.A. approved the Condensed Consolidated Interim Financial Statements for the nine months at 30 September 2023.

9M 2023 Results

  • Bets of €21.7 billion, +19% compared to the same period pro forma1 in 2022 (+34% reported)
  • GGR2 of €2,844.1 million, +7% compared to the same period pro forma in 2022 (+10% reported)

Total Online market share: at 21.2% in Q3 (+3.8pp versus FY 2022)

iSports market share: at 20.4% in Q3 (+3.1pp versus FY 2022)

iGaming market share: at 21.7% in Q3 (+4.5pp versus FY 2022)

  • Revenues at €1,194.9 million, +12% compared to the same period pro forma in 2022 (+17%

reported)

o Online at €374.0 million, +30% compared to 9M 2022 pro forma (+56% reported)

o Sports Franchise at €277.4 million, +10% compared to 9M 2022

o Gaming Franchise at €543.5 million, +3% compared to 9M 2022

  • Adjusted EBITDA3 at €426.4 million, +15% compared to the same period pro forma in 2022 (+25% reported)
  • Operating cash flow4 at €344.7 million
  • Net financial debt at €1,248.1 million equivalent to 2.2x on LTM run rate Adjusted EBITDA5
  • Guidance for fiscal year 2023 confirmed: €1,630 – 1,690 million of revenues, €570 – 590 million6 of Adjusted EBITDA, (c. 50% of Adjusted EBITDA contributed by the Online segment), c. €65 million of recurring capex, c. €45 million of concession capex, c. €30 million of one-off growth capex and c. €35 million of payable for potential deferred consideration.

Guglielmo Angelozzi, Chief Executive Officer of Lottomatica Group, commented: “In this third quarter we have consolidated our leadership position and our Online business has continued to grow market share across all product segments and brands. In the first nine months we reached €426 million of EBITDA, up 15% compared to the same period in 20227. We are on track to achieving our guidance for fiscal year 2023 and to continue to execute our strategy of organic and M&A growth.”

***

The Board of Directors of Lottomatica Group S.p.A. approved the Condensed Consolidated Interim Financial Statements for the nine months ended 30 September 2023.

 

Key consolidated results for 9M 2023

 

Please note that Betflag has been consolidated on the reported numbers (“rep”) since 1st December 2022. Thus, the first nine months of 2023 results are commented compared to the pro forma (“PF”) amounts for the same period of 2022 as if Betflag acquisition occurred on 1st January 2022.

 

Bets by segment

€ million; % 9M 2023 9M 2022 PF            9M 2022 rep YoY PF % YoY rep %
Online

 

Sports Franchise

 

Gaming Franchise

11,533

 

2,029

 

8,149

8,400                       6,303

 

1,769                       1,769

 

8,118                       8,118

+37%

 

+15%

 

+0%

+83%

 

+15%

 

+0%

Total Bets 21,711 18,287                      16,190 +19% +34%

 

In the first nine months of 2023, Lottomatica collected bets for €21.7 billion, +19% compared to the same period pro forma in 2022 (+34% reported). The Online segment continued to outperform with bets up 37% compared to the same period pro forma of 2022 (+83% reported).

 

Revenues by segment

€ thousands; % 9M 2023 9M 2022 PF           9M 2022 rep YoY PF % YoY rep %
Online

 

Sports Franchise

 

Gaming Franchise

373,978

 

277,447

 

543,518

288,185                   239,514

 

252,599                   252,599

 

525,691                   525,691

+30%

 

+10%

 

+3%

+56%

 

+10%

 

+3%

Revenues 1,194,943 1,066,475                1,017,804 +12% +17%

 

Revenues amounted to €1,194.9 million in the first nine months of 2023, compared to €1,066.5 million in the same period pro forma of 2022, with +12% increase pro forma (+17% reported). Excluding the impact of the unfavourable payout8, revenues in Q3 were up +11% compared to Q3 2022 pro forma, substantially in line with the growth rate of the first two quarters.

The Online segment totalled €374.0 million revenues in 9M 2023, +30% compared to the same period of 2022 pro forma (+56% reported), with a strong double-digit performance also in the third quarter driven by the market share growth across all product segments and brands. Excluding the impact of the unfavourable payout8, revenues in Q3 were up +40% compared to Q3 2022 pro forma.

The Sports Franchise segment reported €277.4 million in revenues in 9M 2023, up +10% compared to the same period of the previous year. Excluding the impact of the unfavourable payout7, revenues in Q3 were up +8% compared to Q3 2022 pro forma.

The Gaming Franchise segment revenues reached €543.5 million in 9M 2023, +3% compared to the same period of 2022. Revenues in Q3 decreased by -3% compared to Q3 2022, which benefited from the removal of Covid-related restrictions.

 

Adjusted EBITDA and margin by segment

€ thousands, % 9M 2023 9M 2022 PF                     9M 2022 rep YoY PF % YoY rep

         %        

+56%

 

+1%

 

+4%

Online

 

Sports Franchise

 

Gaming Franchise

217,855        58.3%

 

79,939        28.8%

 

128,587        23.7%

168,768        58.6%          139,548        58.3%

 

79,169        31.3%            79,169        31.3%

 

123,612        23.5%          123,612        23.5%

+29%

 

+1%

 

+4%

Adj EBITDA 426,381        35.7% 371,549        34.8%          342,329        33.6% +15% +25%

 

Adjusted EBITDA reached €426.4 million in the first nine months of 2023, +15% compared to the same period pro forma of 2022 (+25% reported). Adjusted EBITDA margin reached 35.7% on revenues, compared to 34.8% in the same period pro forma of 2022 (33.6% reported) driven by the higher contribution of the Online business.

Excluding the impact of the unfavourable payout7, Adjusted EBITDA in Q3 was up +18% compared to Q3 2022 pro forma, in sequential acceleration compared to the first two quarters.

 

Operating cash flow

€ thousands 9M 2023 9M 2022 rep
Adjusted EBITDA 426,381 342,329
Recurring capex

 

Concession capex

(46,073)

 

(35,582)

(44,503)

 

Operating cash flow 344,726 297,826

 

Operating cash flow in the first nine months was €344.7 million, compared to €297.8 million for the same period in 2022, as a result of the increase in Adjusted EBITDA partially offset by concession payments.

 

Net financial debt

 

€ milion                                                       30 June 2023

Pro forma

 

30 Sept 2023

 

Gross Financial Debt                                                       1,539

 

EUR 550m FRNs due 2028                                                  550

 

EUR 565m SSNs due 2028                                                  565

 

EUR 350m SSNs due 2027                                                  350

 

IFRS 16 (leases)                                                                     74

 

1,542

 

550

 

565

 

350

 

77

Cash                                                                                   (323) (294)
 

Net Financial Debt                                                            1,216

 

1,248

LTM run rate Adjusted EBITDA                                             559 572
  2.2x

 

Net leverage                                                                        2.2x

 

Net financial debt amounted to €1,248 million as of 30 September 2023, equivalent to a net leverage of 2.2x on LTM run rate Adjusted EBITDA9.

***

Management will hold a conference call at 10:00 CET on 31 October 2023 to comment the consolidated results to the market. The event can be followed:

  • Via phone: +39 02 802 09 11 or +44 121 281 80 04 or +1 718 705 87 96
  • Via  Webcast

The manager in charge of preparing the company’s accounting documents, Laurence Lewis Van Lancker, declares, pursuant to paragraph 2 of Article 154-bis of the Consolidated Finance Act, that the accounting information contained in this press release corresponds to the documented results, books and accounting records.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

Continue Reading
Advertisement
Prague Gaming & TECH Summit 2025 (25-26 March)
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Latest News

From ‘Mummyverse’ to Crash Games: Belatra Reviews a Landmark 2025

Published

on

Editor’s Take

Why this matters: Belatra has been a steady hand in the slots world for a long time, but 2025 marked a distinct shift in strategy. By entering the Crash vertical with Goose Boom Bang and winning big at SiGMA Africa, the studio is clearly pivoting to capture the high-growth, high-frequency players in emerging markets. They are no longer just a “classic slots” developer; they are diversifying the portfolio to ensure relevance in regions like LatAm and Africa.

The Full Story

Belatra Games, the specialist online slots developer, has issued a strategic review of its 2025 operations, celebrating a 12-month period defined by entry into new game verticals, significant franchise expansion, and high-profile industry recognition.

The year was characterized by a dual strategy: deepening engagement in established markets while aggressively expanding its content portfolio to suit local preferences in emerging territories.

Portfolio Evolution: Crash and Battles 2025 saw Belatra move beyond its traditional slot roots. The company made its debut in the high-demand Crash game vertical with the launch of Goose Boom Bang, a title designed to tap into the fast-paced gameplay preference of younger demographics.

Additionally, the studio introduced a fresh game concept with the launch of Battles, a new format unveiled for the first time in 2025, with further development planned for 2026.

The ‘Mummyverse’ Expands For fans of classic slots, the highlight of the year was the aggressive expansion of the Mummyverse. Belatra nearly doubled the size of this franchise over the year, making it the most extensive game universe in their entire catalog.

The developer also focused on B2B localization, releasing a number of exclusive bespoke games created specifically for selected operator partners to meet specific local market tastes.

Awards and Recognition The company’s strategic shifts were validated by industry accolades. Belatra secured over 30 nominations throughout the year, with standout wins including:

  • Best Slot Provider (awarded by BitStarz).

  • Most Played Game of 2025 for Make It Gold at the SiGMA Africa Awards.

  • Player’s Pick Award.

Management Commentary Misha Voinich, Head of Business Development at Belatra, commented on the studio’s momentum:

“This year has truly defined who we are as a studio – ambitious, creative and focused on building long-term partnerships. We’ve expanded our universes, launched new ones and entered exciting new markets that will all help us carry this momentum into the New Year.”

The post From ‘Mummyverse’ to Crash Games: Belatra Reviews a Landmark 2025 appeared first on Gaming and Gambling Industry Newsroom.

Continue Reading

Latest News

‘Chaos and Soul’: Ebaka Games Plots Global Expansion After Viral Launch

Published

on

Editor’s Take

Why this matters: The “Instant Game” vertical (Crash, Plinko, Mines) is becoming crowded, but Ebaka Games is cutting through the noise with a distinct brand personality. By securing BMM Testlabs certification so quickly after launch, they are signaling to Tier 1 operators that despite their “chaotic” marketing vibe, the math underneath is solid and compliant. The backing of industry veteran Dmitry Belianin also adds immediate commercial credibility to the startup.

The Full Story

Ebaka Games, the fledgling studio that promises to bring “chaos and soul” to the iGaming sector, has outlined an aggressive growth strategy for 2026 following a landmark launch period in late 2025.

The studio, which officially debuted in November, reports that its initial rollout reached more than five million people worldwide. The launch saw its portfolio go live with the operator Menace, serving as the initial testbed for its mechanics and “Ebaka modes.”

The Product: Instant Games with Personality Ebaka is bypassing traditional slots to focus on the high-growth vertical of fast-paced, instant-win games. Their initial lineup includes:

  • Plinko

  • Mines

  • Tower

  • Limbo

  • Crash

Differentiation is achieved through unique mascots and signature gameplay tweaks designed to offer high win potential and distinct visual identities, moving away from the generic interfaces often found in this genre.

Regulatory Milestone Crucially for its 2026 roadmap, Ebaka Games has confirmed it has secured certification from BMM Testlabs. This accreditation validates the fairness and integrity of its RNG (Random Number Generator) and game engines, removing a major barrier to entry for regulated markets. With this certification in hand, the studio plans to launch with a number of “major brands” in the coming year.

Management Commentary Vitalii Zalievskyi, CEO of Ebaka Games, commented on the studio’s unorthodox approach:

“It’s only been a few weeks since we first introduced Ebaka Games to the world. The feedback has been breathtaking, and it vindicates the decision for us to take a different path to the rest of the industry. You don’t need huge marketing budgets to grab people’s attention if you are building something truly innovative.”

Industry Backing The studio describes itself as being “created by players for players” but boasts significant industry firepower in its corner. The team includes Dmitry Belianin, a well-known figure in the sector who is the co-founder of Blask and Menace, as well as Managing Partner at Already Media.

The post ‘Chaos and Soul’: Ebaka Games Plots Global Expansion After Viral Launch appeared first on Gaming and Gambling Industry Newsroom.

Continue Reading

Latest News

Racing Meets Nightlife: SBK Backs ARC’s New ‘Friday Night Live’ Series

Published

on

Editor’s Take

Why this matters: British racing has a well-documented demographic problem; its core audience is aging. “Friday Night Live” is a direct attempt to fix this by blending high-stakes racing with the “experience economy” (DJs, nightlife vibes) that appeals to Gen Z and Millennials. Bringing SBK on board—a mobile-first, app-only sportsbook—is a perfect demographic fit, while the Racing Post adds the necessary credibility to ensure the actual racing product remains the focus.

The Full Story

Arena Racing Company (ARC) has unveiled the strategic commercial lineup for its upcoming Friday Night Live series, confirming SBK as the Exclusive Betting Partner and The Racing Post as the Official Media Partner.

Set to launch in January 2026, Friday Night Live is a new initiative created in collaboration with youth-focused events company INVADES. The series is designed to overhaul the traditional race day experience, featuring fast-paced fixtures under floodlights, DJ sets, and significant entertainment elements sandwiched between races.

The Commercial Deal

  • SBK: As the exclusive betting partner, the Smarkets-owned sportsbook will take naming rights and on-course branding for all 35 races. Crucially, these races will be broadcast live on mainstream television via ITV Racing as well as Sky Sports Research.

  • The Racing Post: As the Official Media Partner, the publication will provide content, coverage, and promotion across its digital platforms, aiming to bridge the gap between established racing purists and the new audience ARC hopes to attract.

A High-Stakes Experiment The series is not just a marketing exercise; it carries serious sporting weight. Each of the five scheduled nights will feature over £200,000 in prize money. The fixtures will rotate across three of ARC’s all-weather tracks: Wolverhampton, Newcastle, and Southwell.

Management Commentary David Leyden Dunbar, Group Director of Commercial Strategy at ARC, was clear about the target audience:

“We have been very clear that one of the aims of Friday Night Live is to engage the next generation of racing fans… Both [partners] have shown real enthusiasm to work with us… as well as using the platform that these fixtures will offer them to also engage with more established racing and sports fans.”

Adam Baylis, Marketing Director at SBK, added:

“Friday Night Live [is] a fresh and engaging concept that brings a new energy to British racing. SBK has always been built around sport… our focus is on enhancing the live race day experience in a fun, social and responsible way.”

The 2026 Schedule The series kicks off immediately in the new year:

  • 9th Jan: Wolverhampton

  • 6th Feb: Newcastle

  • 20th Feb: Southwell

  • 20th March: Wolverhampton

  • 27th March: Newcastle

The post Racing Meets Nightlife: SBK Backs ARC’s New ‘Friday Night Live’ Series appeared first on Gaming and Gambling Industry Newsroom.

Continue Reading

Trending

EEGaming.org is part of HIPTHER, parent brand of various prominent news outlets and international conferences. These platforms and events span a wide range of industries, including Entertainment, Technology, Gaming and Gambling, Blockchain, Artificial Intelligence, Fintech, Quantum Technology, Legal Cannabis, Health and Lifestyle, VR/AR, eSports, and several others. This indicates that EEGaming.org is part of a larger network that focuses on a diverse array of sectors, particularly those related to cutting-edge technology and modern lifestyle trends.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2025 HIPTHER. All Rights Reserved. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.