More M&A on the horizon for Lottomatica as SKS365 drives online growth in H1

By Robert Fletcher — Published: Thu, 31 Jul 2025 10:57:38 +0000

Lottomatica H1

Summary

Italian operator Lottomatica posted a strong first half of 2025, with revenue up 13% year-on-year to €1.12bn. Online was the main driver: online revenue hit €463m (up 37%), while adjusted EBITDA rose 33% to €422m. Net profit attributable to Lottomatica jumped 215% to €64.8m for the half. Management highlighted the role of last year’s SKS365 (now Planetwin/PWO) acquisition in boosting online and retail sports betting figures and said further M&A remains on the agenda, alongside an ongoing buyback programme. Group guidance for 2025 revenue is €2.32–2.37bn, with adjusted EBITDA forecast at €840–870.6m.

Source

Source: https://igamingbusiness.com/finance/half-year-results/lottomatica-ma-h1-growth/

Key Points

• Revenue for H1 2025: €1.12bn, up 13% year-on-year.
• Online revenue led growth at €463m, a 37% increase; online adjusted EBITDA was €251m (up 41%).
• Adjusted EBITDA: €422m for the half, up 33%; sports betting EBITDA jumped 60% to €81m.
• Net profit attributable to Lottomatica rose 215% to €64.8m.
• SKS365 acquisition (now PWO/Planetwin) materially boosted volumes and revenue; integration onto Lottomatica’s tech platform is due to complete by year-end.
• Processed bets: total 21.8bn (online bets 14.4bn, +34%).
• Management is pursuing additional M&A while running a share buyback to balance capital allocation; Apollo fully exited the business on 19 June 2025.
• FY 2025 guidance maintained: revenue €2.32–2.37bn; adjusted EBITDA €840–870.6m.

Context and relevance

Lottomatica is consolidating its position as Italy’s online market leader (around a 30.5% online share) through acquisitions and tech integration. The SKS365 deal — and migration onto Lottomatica’s proprietary platform — is a clear example of how M&A plus platform consolidation can rapidly scale online operations and margins in iGaming. For investors and competitors, the combination of strong online growth, significant EBITDA expansion and an active capital-allocation policy (buybacks plus M&A appetite) signals an assertive growth strategy that could reshape Italian market dynamics.

Why should I read this?

Quick and dirty: if you care about who’s buying who in Italian iGaming, or how online volumes are moving company earnings, this spells out the playbook — SKS365 pushed online growth and Lottomatica’s management is clearly still shopping. It’s short, punchy and tells you where the next moves might land.

Author note

Punchy takeaway: Lottomatica isn’t resting on last year’s deal. Strong H1 results mean the group has both the cash and the strategic intent to do more deals — and the market should pay attention. Read the detail if you follow M&A, investor returns or Italian market share shifts.