Italy’s leading gambling company, Lottomatica, has taken decisive steps ahead of its anticipated inclusion in the prestigious FTSE MIB, a list that features the top 22 companies on the Milan Stock Exchange. These preparations come as the company prepares to replace the renowned tyre manufacturer Pirelli in the index on September 22.
In line with these strategic maneuvers, Lottomatica has appointed two new independent directors, Tiziana Togna and Fabrizio Virtuani, marking a significant renewal phase for the company’s board. This renewal process, which initiated earlier this year, is set to complete with the full board’s reappointment scheduled for April 2026. Both Togna and Virtuani are expected to serve until the next shareholders’ meeting, contributing their expertise to the company’s expansion strategies.
The board’s restructuring includes an expansion of critical committees. The Related Parties and Risk and Control Committees have both been expanded, now comprising four members each. Tiziana Togna will take a seat on the Related Parties Committee, while Fabrizio Virtuani will contribute to the Risk and Control Committee. Notably, Augusta Iannini, already chairing the Related Parties Committee, has expanded responsibilities, now also serving on the Nomination and Remuneration Committee. These changes reflect Lottomatica’s commitment to enhanced governance and strategic oversight as it steps onto the FTSE MIB stage.
Earlier in the year, the company witnessed a significant transition in its board composition, with former chairman Andrea Moneta and non-executive directors Michele Rabà, Michael Saffer, and Yulia Shakhova stepping aside. This paved the way for new executive directors Laurence Van Lancker and Alessandro Fiumara, who joined the ranks in July, bringing fresh perspectives and a renewed focus on growth.
Lottomatica’s stock has performed impressively since its market debut in May 2023. The company’s share price has surged from an initial €9 to a robust €22.50, reflecting strong investor confidence and market performance. This ascent is backed by significant institutional investors, including Fidelity with a 10 percent stake, Capital Research holding 5 percent, Morgan Stanley with 4.6 percent, and Norges Bank at 3 percent.
The company’s robust financial performance has set the stage for its strategic market position. In the first half of 2025, Lottomatica reported revenues of €1.12 billion, representing a 13 percent increase year-on-year. Adjusted EBITDA rose by a third to €422 million, and net profit attributable to the company surged by 215 percent to €64.8 million. Online operations were a key driver, generating €463 million, a 37 percent increase from the previous year.
Lottomatica’s sports betting segment also showed remarkable growth, with revenues climbing 31 percent to €279 million. This was largely attributed to the integration of SKS365, acquired for €639 million in April 2024 and subsequently rebranded as PWO. Meanwhile, gaming hall revenue saw a modest 2 percent increase, totaling €386 million, with much of this growth occurring in the second quarter.
The acquisition of SKS365 has been pivotal for Lottomatica, significantly enhancing its market presence. Alongside absorbing the land-based brand BetFlag, the company now commands an estimated 30.5 percent of Italy’s online gambling market. This places it in direct competition with industry giant Flutter Entertainment, which operates Sisal, Betfair, and SNAI in Italy.
Looking ahead, Lottomatica has set ambitious targets for the full year, projecting revenues to be between €2.32 and €2.37 billion. The company anticipates an adjusted EBITDA in the range of €840 to €870.6 million, underscoring its strategic focus on sustainable growth and market leadership.
While Lottomatica’s ascent is notable, some market analysts offer a cautious perspective. The competitive landscape remains intense, with Flutter Entertainment and other major players vying for dominance in the lucrative Italian market. The sustainability of Lottomatica’s growth trajectory and its ability to maintain market share amidst fierce competition will be closely watched.
This dynamic environment reflects the broader trends in the global gambling industry, where consolidation and strategic acquisitions are key to maintaining competitive edges. As Lottomatica prepares to join the ranks of Italy’s elite companies in the FTSE MIB, its leadership is confident that the foundations laid through strategic appointments and robust financial performance will drive future success.
In this context, Lottomatica’s journey to becoming a FTSE MIB-listed company signals not just a milestone for the organization but also an indication of the potential and challenges in the rapidly evolving gambling industry. The next chapters in its growth story will be pivotal, as it navigates the complexities of market expansions, regulatory landscapes, and technological advancements to secure its position as a leader in the industry.
Garry Sputnim is a seasoned journalist and storyteller with over a decade of experience in the trenches of global news. With a keen eye for uncovering stories that resonate, Alex has reported from over 30 countries, bringing light to untold narratives and the human faces behind the headlines. Specializing in investigative journalism, Garry has a knack for technology and social justice issues, weaving compelling narratives that bridge tech and humanity. Outside the newsroom, Garry is an avid rock climber and podcast host, exploring stories of resilience and innovation.
