Lottomatica group reports 23% increase in bets for H1 2024
Lottomatica reports 23% betting surge and record market share in H1 2024.
Lottomatica Group has announced its financial results for the first half of 2024, demonstrating continued growth and an increase in market share. The company reported total bets of €18.0bn ($19.4bn), reflecting a 23% increase year-on-year.
Revenue for the first half of the year reached €931.8m, a 20% rise at a normalised payout. The online segment showed particularly strong performance, with revenue of €338.3m, up 37% and Q2 2024 revenue of €187.9m, marking a 53% increase.
The sports franchise segment recorded €213.7m in revenue, a 4% rise, while the gaming franchise segment reported €379.8m, up 3%.
Adjusted EBITDA for H1 2024 was €317.3m, a 21% increase at normalised payout, with Q2 2024 adjusted EBITDA at €167.8m, risen by 17%. However, adjusted net profit stood at €105.3m, slightly down from the previous year due to the early amortisation of concession fees.
Lottomatica’s market share also reached new heights in Q2 and June 2024. The online market share was reported at 29.1%, the iSports market share at 29.7% and iGaming market share at 29.5%.
Net financial debt was €1.9bn as of 30 June 2024, with a net leverage of 2.7 times on a last twelve months run rate adjusted EBITDA basis.
Given the strong performance and accelerated realisation of cost synergies, Lottomatica revised its full-year guidance upwards. Revenues are now expected to be between €2.03bn and €2.08bn, while adjusted EBITDA is projected to be in the range of €700m to €730m.
In the first quarter of 2024, Lottomatica reported a 4% increase in revenue, totalling €440.1m, with significant growth in the online segment. This period also saw the completion of the acquisition of SKS365, which contributed to the positive results reported for the first half of the year.
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