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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Lottomatica Group
Lottomatica Group (LTMC) investor relations material
Lottomatica Group Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary3 Nov, 2026
Executive summary
9M reportable-segment revenue rose 4.7% to €1,717.8m; statutory revenue was €1,686.6m, up 3.2%.
9M Adjusted EBITDA reached €665.5m, up 8% reported and 19% at normalized payout; Online was the main growth driver.
Q3 reported revenue and Adjusted EBITDA grew 5% and 3%; normalized growth was 12% and 17%, respectively.
Online share gains supported performance; FY26 normalized Adjusted EBITDA guidance was confirmed at the top end of the range.
Financial highlights
9M bets rose 8% to €35,204m and GGR increased 2% to €3,516m; reportable-segment revenue reached €1,717.8m.
9M statutory net profit was €155.3m versus €98.3m; Adjusted Net Profit was €262.6m versus €257.4m.
Q3 reported revenue was €537m, up 5%, and Adjusted EBITDA was €200m, up 3%; normalized growth was 12% and 17%.
9M operating cash flow increased to €544.9m from €504.0m; recurring and concession capex totaled €120.6m.
Personnel expenses rose 9.6% to €128.5m; depreciation and amortization increased 10.4% to €215.6m, while net finance expenses fell to €109.0m.
Outlook and guidance
FY26 normalized Adjusted EBITDA guidance was confirmed at the top end of the range; management cited confidence in continued growth and cash generation.
CIRSA closing is expected in Q2 2027, subject to shareholder approvals and regulatory authorizations; financing is secured.
Shareholder meetings were called for 23 and 30 November 2026; regulatory filings were made, with gaming approval sought in Portugal only.
Normalized payout assumptions of 85.5% online and 80.5% retail remain valid; reported Q4 EBITDA remains exposed to payout volatility.
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Latest events from Lottomatica Group
- Acquisition creates a gaming leader in Spain and Latam, targeting strong online-driven growth.LTMC
Investor presentation - All-share merger forms a €2bn EBITDA gaming leader, targeting €115–150M synergies and €4B returns.LTMCM&A announcement
- Merger forms a top global gaming operator with €2bn EBITDA, strong synergies, and high returns.LTMCCorporate presentation
- Adjusted EBITDA up 10% to €465.3m, margin at 39.4%, net profit €116m, strong online growth.LTMCQ2 2026
- EBITDA up 21%, market share gains, and EUR 375M returned to shareholders in 2025.LTMCQ4 2025
- Q3 2024 Adjusted EBITDA up 30%, with strong online growth and confirmed 2024 guidance.LTMCQ3 2024
- Record online share, 14% revenue growth, and upgraded guidance after SKS365 acquisition.LTMCQ2 2024
- Record Q1 with 33% revenue growth, 47% EBITDA rise, and €500M buyback announced.LTMCQ1 2025
- Record 2024 results with €2,005m revenue, €739m EBITDA, and strong online growth.LTMCQ4 2024
Next Lottomatica Group earnings date
Q4 20262 Mar, 2027
Lottomatica Group
Next Lottomatica Group earnings date
Q4 20262 Mar, 2027
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Frequently asked questions
Lottomatica Group S.p.A., formerly known as Gamma Midco SpA, is an Italian holding company engaged in the betting and lottery industry. The company operates through three main segments: Sports Betting and Online Gaming (Online), Sports Betting and Gaming through the Retail Network (Sports Franchise), and Gaming Franchise. The Gaming Franchise segment is involved in the direct management of gaming centers and concessionary activities for Video Lottery Terminals (VLTs) and Amusement With Prizes (AWPs). The Sports Franchise segment offers a broad range of retail betting options, including sports betting, virtual betting, and horse race betting. The Online segment encompasses iSports (online sports, virtual, and horse race betting), iGaming (online casino), and other online products such as bingo, poker, skill games, and betting exchange. The company is headquartered in Rome, Italy, and its shares are listed on Euronext Milan.