Lottomatica anticipates 2023 revenue rise ahead of IPO
Italian giant readying itself for Milan listing as it notes strong early 2023 performance
Lottomatica is expecting to post between €1.6bn and €1.7bn in revenue for full-year 2023 as it targets a public listing in the next 12 months.
The Italian operator behind betting brand Goldbet revealed its 2023 projections after confirming full-year 2022 revenue of €1.4bn, up from €815.4m in 2021.
Lottomatica has started the process to list its ordinary shares on the Euronext Milan, with the listing subject to market conditions.
Alongside the rise in full-year revenue, Lottomatica is anticipating EBITDA of between €550m and €570m, with online EBITDA of at least €275m.
The operator is expecting these rises to be driven by its €310m acquisition of Betflag in November.
Elsewhere, Lottomatica provided a trading update for its performance in January and February.
Revenue between 1 January and 28 February amounted to €281m, an increase of 21% compared to the same period in 2022.
Online revenue has risen by 39% year on year, with a 19% increase in its sports retail arm and 12% in gaming.
EBITDA for the first two months of 2023 increased by 27% to €104m.
The group also revealed a 33% jump in total stakes to €4.8bn.