Lottomatica reported nine-month revenue of €1.72bn, up 5%, and a record 32.4% share of Italy’s online gambling market in September. Adjusted EBITDA rose 8% to €665m, while the company maintained its full-year guidance and said its planned merger with CIRSA was expected to complete in the second quarter of 2027, subject to approvals.
The results show online growth alongside a proposed merger that still requires approvals.
Quarter ended 30 June 2026
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EGR reported on 11 September that Eduardo Morales-Hermo, a Spanish market expert, assessed the Lottomatica and CIRSA merger favourably. He said the all-share transaction would improve the combined group's retail and online operations.
Cirsa shares closed nearly 20% higher, exceeding EUR16 per share after the Lottomatica merger announcement. The companies expect to complete the merger in the second quarter of 2027, subject to corporate and regulatory approvals.
Reportedly, Lottomatica chief Guglielmo Angelozzi voiced confidence in the CIRSA merger. He pointed to CIRSA’s eight leadership positions and separately highlighted opportunities in Italy.
Lottomatica described a merger with Cirsa as low risk. Angelozzi expressed confidence in Cirsa's management and said earlier deals had failed after Lottomatica sought excessive changes to acquired businesses.
Reportedly, Lottomatica agreed to absorb CIRSA through a cross-border merger paid entirely in shares. The transaction requires approval from both companies’ shareholders and the relevant regulatory authorities.
