Lottomatica Group, an Italian iGaming company, has successfully debuted on the Italian Stock Exchange, making headlines as the largest listing in Europe to date this year. Fabrizio Testa, the CEO of Borsa Italiana, expressed pride in the achievement, stating, “We are proud that it took place in Italy and that a very important message is being sent: our country is full of energy and strength.“
Overcoming Market Challenges
This landmark listing marks the third admission to the main list in 2023, bringing the total to 221 IPOs. Barbara Lunghi, head of primary markets at Borsa Italiana, noted that Lottomatica’s listing not only ranks first in Europe for 2023 but also stands as the third in the EMEA region by market capitalisation and fourth by amount raised.
Lottomatica Group’s CEO, Guglielmo Angelozzi, acknowledged the challenges of entering the market during a delicate period for equity markets. Despite the difficulties, the company proceeded with confidence, believing it to be the right choice for seizing growth opportunities in the medium to long term.
Angelozzi also credited their partnership with Apollo, a bold partner that enabled Lottomatica to triple its EBITDA. As a result, the company has become the primary revenue generator in Italy within their sector, strengthened their business portfolio, and built a technological hub in the country.
Sustainability and ESG factors have been placed at the core of Lottomatica’s business strategy, contributing to its success. The listing on the Italian Stock Exchange represents the beginning of a new journey for the company. Angelozzi highlighted the support of institutional and international investors, who account for almost 85% of their backing, as a testament to the trust placed in both the company and Italy’s economic system.
With the first quarter of 2023 showing a like-for-like organic growth of 15-16%, Lottomatica’s business indicators are on the rise. The company remains optimistic for the second half of the year, boasting solid accounts and a leverage of 3.2 times before the IPO.
The successful debut of Lottomatica Group on the Italian Stock Exchange showcases Italy’s thriving economic landscape and sets the stage for future growth and opportunities in the European iGaming industry.