Lottomatica Group SPA states that it has achieved all corporate objectives of a transformative 2023, as its business prepares to become Italian gambling’s outright market leader by acquiring SKS365 Group.
Publishing its full-2023 accounts this morning, Lottomatica announced corporate revenues of €1.63bn, up 12% on FY2022 results of €1.49bn.
Growth in headline revenues reflects Lottomatica generating consolidated bets (volume) of €30bn (+18%) across its principal units of Online, Sports Franchise, and Gaming Franchise.
Gross Gambling Revenues (GGR) generated by Lottomatica units amounted to €3.86bn (+6%), as investors were informed of the key achievement of Lottomatica increasing its Italian online gambling market share to 21.7% – a +3.7% increase from FY2022 proforma results.
As detailed on company accounts: “The Online segment outperformed the rest of the business, reaching revenues of €520.8 million in FY 2023, +33% compared to FY 2022 pro forma, with a record growth in the fourth quarter of +43% compared to Q4 2022 pro forma both at normalized and actual payout, driven by the group’s market share gains, increase in spending, and number of users.”
Group income was further buoyed by the retail units of the Sports Franchise and Gaming Franchise generating respective revenues of €368m (+8%) and €743m (+3%), as Lottomatica declares growth across all core business segments.
Underlying group results, Lottomatica’s ‘normalised’ EBITDA for FY2023 trading stood at €595m – €25m above the target guidance of €570 outlined in the Group’s return to Borsa Milan during the first half of the year trading.
Closing its FY2023 accounts, Lottomatica declared adjusted net profits of €215m (+29%), as group operating cash flow stands at €469m.
2024 trading sees Lottomatica move to complete its acquisition of SKS365 Group for €640m. Investors were informed that for FY 2024, “Lottomatica Group expects to reach consolidated results, excluding the contribution of SKS365 and the related synergies of the deal, of: – Revenues: €1,800-1,845 million – Adjusted EBITDA: €625-645 million, of which around 53% is contributed by the online segment.”
Group CEO Guglielmo Angelozzi commented: “2023 marked a very strong year for our group, in which we consolidated our leadership position across all segments and brands. We exceeded expectations set at IPO and subsequent upgrades, with revenues of €1,6m and Adjusted EBITDA of €596m at normalised payout (€580m actual).
“We continued to grow both organically, increasing market share for the fifth quarter in a row, and through M&A, signing the acquisition of SKS365 and executing our bolt-on strategy. I wish to thank all the Lottomatica people for their commitment to the achievement of these amazing results, our Board members for their continued support, and our investors for their trust.”
