Lottomatica H1 2026 Results: Revenue Rises to €1.2bn With 31.6% Market Share in Italy

Lottomatica, Italy's largest licensed betting operator, reported first-half 2026 revenue of €1.2 billion, a 5% year-on-year increase, as online growth and improving margins cemented its position as the dominant force in the country's regulated gambling sector. The group now holds 31.6% of Italy's online gaming market and 31.8% of the online sports betting segment as of the second quarter of 2026.

The results, covering the six months to 30 June 2026, confirm that Lottomatica has used Italy's first full year under its renewed licensing regime to extend its competitive lead. CEO Guglielmo Angelozzi highlighted "consistency in growth" across all financial metrics. Adjusted EBITDA for the half reached €465 million, up 10% year on year, with the Q2 2026 EBITDA of €230 million representing a 14% improvement on the same quarter a year earlier.

What Were Lottomatica's H1 2026 Revenue and Profit Figures?

Lottomatica generated total revenue of €1.2 billion in the first half of 2026, up 5% from €1.12 billion in the same period a year earlier, according to the company's H1 2026 results published on 28 July 2026. Adjusted EBITDA reached €465 million for the half, a 10% improvement on the €422 million recorded in H1 2025. Adjusted net profit stood at €196 million. Net financial debt was €2.1 billion at the close of the period.

• H1 2026 Revenue: €1.2 billion, up 5% year on year (Lottomatica Group, July 2026)
• Adjusted EBITDA: €465 million, up 10% year on year (Lottomatica Group, July 2026)
• Online market share: 31.6% in Q2 2026 (Lottomatica Group, July 2026)

How Did the Online Division Perform in H1 2026?

Online was the clear growth engine. The division posted revenue of €525 million in H1 2026, up 6% from €463 million in H1 2025, and online bets placed on the platform increased 12% year on year. Lottomatica's digital products now represent the single largest revenue-contributing segment, driven by casino, live dealer games, and a sports betting product that commands the highest market share of any licensed operator in Italy. Online EBITDA margins widened during the period, reflecting operating leverage as the registered user base expands and the integration of acquired assets contributes scale.

What Is Lottomatica's Market Share in Italy's Betting Market?

Lottomatica holds a 31.6% share of Italy's online gaming market and a 31.8% share of the online sports betting segment as of Q2 2026. That represents a meaningful gain from the 30.5% online market share the company held in H1 2025 and marks a gain of 1.1 percentage points in twelve months. Lottomatica is ranked fifth by brand count among the 135 licensed operators in Italy, which means it captures almost a third of the entire market while competing against operators including Sisal (owned by Flutter Entertainment), BetFlag, GoldBet, and bet365. The share gain reflects both organic growth and the progressive integration of SKS365, acquired for €639 million and rebranded internally as PWO, whose digital footprint has been absorbed into the Lottomatica ecosystem.

How Does H1 2026 Performance Compare to H1 2025?

Metric	H1 2025	H1 2026	Change
Total Revenue	€1.12 billion	€1.2 billion	+5%
Adjusted EBITDA	€422 million	€465 million	+10%
Online Revenue	€463 million	€525 million	+13%
Online Market Share	30.5%	31.6%	+1.1 ppt
Sports Franchise Revenue	€279 million	€275 million	-1%
Online Bet Volume	Base	+12%	+12%

Sources: Lottomatica Group H1 2026 results release (28 July 2026); iGaming Business H1 2025 analysis.

How Did the Sports Betting and Retail Segments Perform?

Sports betting franchise revenue came in at €275 million for H1 2026, a marginal 1% decline year on year compared with €279 million in H1 2025. The retail-linked segment faced pressure from Italy's continuing structural shift toward digital channels, a trend that has accelerated under the post-2025 regulatory framework. However, this modest decline was not severe enough to offset the online division's growth, and overall group EBITDA expanded by double digits. The split between online strength and retail softness is a pattern shared by most major European regulated operators and reflects consumer behaviour rather than any operator-specific problem.

What Is the Size and Significance of Italy's Betting Market?

Italy is the European Union's largest regulated betting market. Lottomatica's own results framing references a Competitive Earnings Baseline of approximately €5.6 billion for the Italian market. The country moved into a new regulatory era in late 2024 and into 2025, with a re-licensing round that consolidated the operator landscape and created clearer compliance obligations around advertising, age verification, and responsible gambling. Lottomatica was among the first major operators to be re-licensed under the new framework and has used the transition period to consolidate its lead. The Italian market's scale, combined with a well-established regulatory environment, makes it a benchmark for online gambling performance across the continent.

Who Are Lottomatica's Main Competitors in Italy?

Lottomatica operates in a 135-brand licensed market, but competitive intensity is concentrated at the top. Its principal rivals include Sisal (controlled by Flutter Entertainment, the world's largest online betting group), BetFlag, GoldBet, and the Italian operations of bet365. Despite being ranked fifth by brand count, Lottomatica's 31.6% online market share demonstrates it far outperforms most competitors on a revenue-per-license basis. The group's breadth across sports betting, casino, and lottery-adjacent products gives it a diversification advantage most pure-play digital operators cannot easily replicate.

What Did CEO Guglielmo Angelozzi Say About H1 2026?

"We are showing consistency in growth across our financial metrics, and shareholder distributions have exceeded 10% of market capitalisation since June 2025." - Guglielmo Angelozzi, CEO, Lottomatica Group, 28 July 2026

The emphasis on capital return reflects Lottomatica's maturing phase. In H1 2025 the group launched a share buyback programme and management indicated it would weigh buybacks against M&A opportunities. The €2.1 billion net debt position is the key variable constraining further acquisitions in the near term, though integration of the SKS365 asset is delivering synergies that have not yet been fully recognised in reported figures. Apollo Global Management, an early backer, fully exited its stake in June 2025, removing an overhang and signalling confidence in the standalone equity story.

What Does the SKS365 Integration Mean for Future Performance?

Lottomatica completed its €639 million acquisition of SKS365 in 2025 and rebranded the asset as PWO for internal reporting purposes. SKS365 was one of Italy's larger independent sports betting brands before the acquisition, and its absorption has added registered users, a complementary digital infrastructure, and incremental sports betting market share. The integration was targeted for completion by end of 2025. Full-year 2026 will be the first reporting period to reflect twelve months of combined operations without integration costs weighing on the comparable period, which should provide a cleaner picture of underlying synergy capture.

What Is the Outlook for Lottomatica for the Rest of 2026?

Lottomatica's full-year guidance for 2026, set earlier in the year, pointed to revenue in the range of approximately €2.3 billion to €2.4 billion, with adjusted EBITDA of €840 million to €870 million. The H1 run rate of €1.2 billion in revenue and €465 million in EBITDA puts the group broadly on track for the lower end of those ranges, assuming the H2 period maintains the momentum visible in Q2 2026. Italy's re-licensing framework has removed the licence uncertainty that weighed on the sector through 2024, and the online segment's 12% bet-volume growth indicates sustained consumer demand. The principal risk remains retail channel softness, where the structural shift to digital continues to compress sports franchise and physical gaming revenues.

Frequently Asked Questions: Lottomatica H1 2026 Results

What revenue did Lottomatica report for H1 2026?

Lottomatica reported total H1 2026 revenue of €1.2 billion, a 5% year-on-year increase from €1.12 billion in H1 2025.

What is Lottomatica's market share in Italy?

Lottomatica holds 31.6% of Italy's online gaming market and 31.8% of the online sports betting segment as of Q2 2026, up from 30.5% online market share in H1 2025.

What was Lottomatica's adjusted EBITDA in H1 2026?

Adjusted EBITDA reached €465 million in H1 2026, up 10% from €422 million in H1 2025.

Is Lottomatica profitable?

Yes. Adjusted net profit for H1 2026 was €196 million. Net financial debt stood at €2.1 billion at the end of June 2026.

Who are Lottomatica's main competitors in Italy?

Key competitors include Sisal (owned by Flutter Entertainment), BetFlag, GoldBet, and bet365, among 135 total licensed brands in the Italian market.

Why is Lottomatica's online division growing faster than its retail segments?

Italian consumers are continuing to shift from retail betting shops and gaming halls to digital channels, a structural trend that favours Lottomatica's investment in its online platform and the integration of SKS365, which added significant digital scale.

Updated July 2026. Primary source: SBC News, Lottomatica H1 2026 results.