Lottomatica Group announced its FY 2025 results on Tuesday, with the Group's GGR reaching 4.735 billion euros, an 8% increase year-over-year, with particularly strong performance in the online segment, where betting volume grew by 22%. Thanks to continuous efforts in product development, the group's online market share in Italy increased to 31.3%, with market shares in gambling and iGaming reaching 32.4% and 31.5% respectively. In plain terms, it's about refining products meticulously and seizing more market share from competitors.
Online engine roaring, market share breaking through across the board
The online business continues to serve as Lottomatica's main growth engine, with betting volume increasing to 954.5 million euros, driving the group's online market share up by 1.2 percentage points to 31.3% for the year. The gambling market share rose to 32.4%, and the iGaming share reached 31.5%. CEO Guilermo Angelozzi stated at the financial report meeting that product development is a key driver for market share growth, especially the marketing technology infrastructure known as "Lottomatica Core," which optimizes digital marketing and improves risk management, forming the group's core competitive advantage. He expects further growth in traditional brand market share by 2026. By the end of 2025, the group had 2.2 million online customers and about 17,400 retail outlets.
PWO integration exceeds expectations, synergistic effects increase by 34%
PWO, acquired in May 2024, completed integration ahead of schedule, with synergistic effects far exceeding expectations, achieving 87 million euros, about 34% higher than initial guidance. PWO resumed growth in the fourth quarter, with an online market share of 6.3%. The group's adjusted EBITDA for the year increased by 21% to 856 million euros, and adjusted net profit soared by 45% to 369 million euros, with a year-end cash balance on the balance sheet of 375 million euros.
M&A ambitions: Closely monitoring Evoke's business in Italy?
In response to an analyst's question about considering the acquisition of Evoke's business in Italy, CFO Lawrence Van Rank stated he would not comment on specific acquisition opportunities but emphasized monitoring potential targets across Europe, naturally including Italy. Evoke initiated a strategic assessment last December, and it is not yet confirmed which businesses might be sold.
2026 Outlook: Revenue target up to 2.46 billion euros
Lottomatica's management has set clear targets for 2026: revenues are expected to be between 2.39 billion and 2.46 billion euros, with an adjusted EBITDA range of 940 million to 980 million euros. The annual general meeting is scheduled for April 20, where the financial statements, dividend distribution, corporate governance, and the proposed share buyback and cancellation plan will be reviewed.
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