Lottomatica has reported record online market share in Italy. The report says it is preparing for a planned merger with Cirsa.
Lottomatica’s record online market share and planned Cirsa merger could reshape competition in Italy’s online gambling market.
Quarter ended 30 June 2026
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Intermonte and Banca Akros analysts said proposed measures in Italy’s 2027 budget bill could have a limited overall effect on Lottomatica. Intermonte estimated annual concession-related capital spending of about €90m-€100m in 2027-29, while the bill proposes higher gaming taxes on slot machines and higher maximum stakes and prizes; the measures await parliamentary discussion.
The measures in the 2027 budget bill, which await discussion in Parliament, could have a limited overall impact on Lottomatica's accounts. Analysts at Intermonte and Banca Akros reached this view after examining what the budget law plans for the public gaming sector.
Codere’s investment-fund owners are reportedly considering a sale of the group’s main business units separately, while seeking a buyer for the whole company remains the priority. The report says approaches for individual markets have prompted consideration of the alternative, and any potential Cirsa bid would now depend on Lottomatica following Cirsa’s integration agreement with the Italian group.
Lottomatica and CIRSA signed a plan setting out CIRSA's proposed merger into Lottomatica. The companies confirmed the agreement in a joint statement on 8 October after disclosing the deal in September.
The boards of Lottomatica and Cirsa approved a joint merger plan for their proposed combination. The agreement provides 0.668 Lottomatica shares for each Cirsa share.
The boards of Lottomatica Group S.p.A. and CIRSA Enterprises, S.A. have each approved a joint merger plan setting out the terms of a proposed cross-border merger by absorption of CIRSA by Lottomatica, the companies said. The plan follows the proposed combination announced on 2 September 2026. Under the plan, CIRSA will be absorbed by Lottomatica, which will be the resulting company, and CIRSA will cease to exist as an independent legal entity through dissolution without liquidation. Lottomatica will acquire all of CIRSA's assets and assume all of its liabilities and other legal relationships.
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.