Lottomatica reported 2025 gross gaming revenue of €4.74bn, up 8%, and an Italian online market share of 31.3%, up 1.2 percentage points from 2024. The company said total bets reached €44.7bn and revenue rose 12% to €2.26bn; it expects 2026 revenue of €2.39bn-€2.46bn and adjusted EBITDA of €940m-€980m.
Investors and competitors can assess Lottomatica’s Italian market position, 2025 growth and 2026 outlook.
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Blackstone is expected to own about 24% of the combined Lottomatica and CIRSA group if their proposed merger receives the required approvals, according to the report. Existing Lottomatica shareholders would hold about 67.5%, while CIRSA shareholders would receive 32.5%; Blackstone would also have the right to nominate two directors to the 13-member board.
Cirsa said it had agreed to merge with Lottomatica, with completion expected in the second quarter of 2027, subject to shareholder approval. Cirsa shareholders would receive 0.668 newly issued Lottomatica shares per share, giving them 32.5% of the combined company; the agreement also provides for a €262 million Cirsa dividend before the exchange.
Lottomatica chief executive Guglielmo Angelozzi said the planned merger with Cirsa would not materially alter concentration in Italy. He said the businesses and brands were complementary and that the integration strategy would need to reflect each market’s technology, regulation and competitive conditions.
Lottomatica has notified Borsa Italiana of a proposed all-share combination with CIRSA Enterprises, according to reports on 2 September 2026. CIRSA shareholders would receive 0.668 newly issued Lottomatica shares for each share held, giving them about 32.5% of the combined company; the transaction remains proposed.
Lottomatica reported first-half 2026 revenue of approximately €1.2bn, up 5% year on year, and adjusted EBITDA of €465m, up 10%. The company said it expects adjusted EBITDA for the full year to reach the top end of its guidance range.