Lottomatica Reports Third Quarter Profit Rise
Italian betting firm Lottomatica reported a 3 percent rise in third quarter adjusted core profit supported by strong online and sports betting volumes. The company also confirmed its full year guidance and progressed with its planned merger.
Insights:
Lottomatica posted a 3% rise in third-quarter adjusted EBITDA to €200 million on Tuesday morning, driven by strong online and sports betting volumes. The Rome-based operator delivered its first earnings report since proposing a €2.8 billion merger with its Spanish rival. The results underscore the firm's momentum in Italy, Europe's largest regulated gambling market.
