Lottomatica's core profit rises 3%, aided by online and sports betting growth

Nov 3 (Reuters) - Italian betting firm Lottomatica reported 3% growth in its third-quarter adjusted core profit on Tuesday, thanks to double-digit growth in online and sports betting volumes.

The Rome-based company operates primarily in Italy, the largest regulated gambling market in Europe. This is the first round of results since it proposed a merger with Spanish peer Cirsa through a €2.8 billion ($3.1 billion) acquisition in September.

• "We remain confident in our growth trajectory, supported by favourable market dynamics, continued execution of our strategy and strong cash flow generation," CEO Guglielmo Angelozzi said

• Its adjusted EBITDA was €200 million, broadly in line with a company-provided consensus cited by Equita

• Quarterly revenue rose 5% to €537 million, while consensus stood at €534.8 million

• Total bets grew 8% to €35 billion in the first nine months of 2026; online bets grew 12% and sports franchise bets 11%

• Lottomatica confirmed its full-year guidance, seeing adjusted core profit at the top end of the €940-980 million range

• Cirsa has called an extraordinary general meeting on November 30 for shareholders to approve the merger

($1 = 0.8937 euros)

(Reporting by Romolo Tosiani in Gdansk; Editing by Milla Nissi-Prussak)