Lottomatica Group has announced financial results for the first half of 2024, demonstrating continued growth and market share gains. The company reported total bets of €18 billion ($19.4 billion), up 23% year-over-year.
Revenues for the first half of the year reached 931.8 million euros, up 20% on a normalized basis. The online segment showed particularly strong performance, with revenues of 338.3 million euros, up 37%, and revenues for the second quarter of 2024 were 187.9 million euros, up 53%.
The sports franchises division posted revenues of €213.7 million, up 4%, while the gaming franchises division reported €379.8 million, up 3%.
After adjustment in the first half of 2024EBITDA (EBITDA) was 317.3 million euros, an increase of 21% on a normalized payment basis, and adjusted EBITDA in the second quarter of 2024 was 167.8 million euros, an increase of 17%. However, adjusted net profit of €105.3 million was slightly lower than the previous year due to the early amortization of royalty fees.
Lottomatica's market share also reached new heights in the second quarter and June 2024. The online market share is 29.1%, the iSports market share is 29.7%, and the iGaming market share is 29.5%.
Net financial debt was €1.9 billion as of June 30, 2024, and net leverage was 2.7x on a trailing 12-month run rate-adjusted EBITDA basis.
Lottomatica raised its full-year forecast due to strong performance and accelerated realization of cost synergies. Revenue is currently expected to be in the range of €2.03 billion to €2.08 billion, while adjusted EBITDA is expected to be in the range of €700 million to €730 million.
In the first quarter of 2024, Lottomatica reported revenue growth of 4%, totaling €440.1 million, with significant growth in the online segment. During the period, the acquisition of SKS365 was also completed, which contributed to the positive results reported in the first half.
