Lottomatica’s IPO: Financing Debt and Expanding Horizons

Lottomatica's Upcoming IPO: Financing Debt and Expanding Horizons
Lottomatica's upcoming IPO is set to take place from 24 to 27 April, aiming to raise €600 million to finance debt and support growth.

Initial Public Offering Details

Lottomatica’s IPO (initial public offering) is slated to take place from 24 to 27 April, with the goal of raising €600 million. This sum will be comprised of €425 million in newly issued stock and €175 million worth of shares to be sold by existing investor Gamma Topco. A significant portion of the capital raised will be allocated to financing debt, much of which belongs to Lottomatica’s parent company, Apollo Global Management.

Goldman Sachs Granted Option to Purchase Shares

Gamma Topco has granted investment firm Goldman Sachs the option to purchase approximately 20 million additional shares. This option can be exercised during a period of up to 30 days after the shares begin trading on the Euronext Milan exchange, and equates to roughly 15% of the total number of shares on offer.

Offering Initially Targets Institutional Investors

Lottomatica CEO Guglielmo Angelozzi has stated that the offering will first be made available to institutional investors in the European Economic Area and the UK, as well as select qualified investors in the US. The offering is still awaiting approval from Borsa Italiana, the Italian stock exchange, and the Italian financial regulator, Commissione Nazionale per le Società e la Borsa (CONSOB).

Bank Consortium Supports the Venture

A consortium of banks, including Barclays Bank Ireland, Deutsche Bank, Goldman Sachs, JP Morgan, and UniCredit, are acting as global coordinators and bookrunners for the venture. Additionally, Credit Suisse is providing financial advising services.

Lottomatica’s Profitable First Year of Trading

Following IGT’s completion of the €950 million sale of its Italian-facing B2C gaming business to an Apollo-owned subsidiary in May 2021, Lottomatica’s 2022 financial report revealed that revenue growth propelled the company into profitability during its first full year of trading since its acquisition. Lottomatica reported a net profit of €79.3 million, attributed to a 72.8% increase in revenue, which reached €1.41 billion.

Implications of Lottomatica’s IPO:

  1. Increased Capital: Lottomatica’s listing on the stock market will provide the company with additional capital, enabling it to pay off debts, invest in growth opportunities, and enhance its overall financial standing.
  2. Enhanced Visibility and Reputation: As a publicly-traded company, Lottomatica can attract more investors and partners, thereby boosting its market presence, visibility, and reputation within the gaming industry.
  3. Greater Financial Transparency and Accountability: Listing on the stock market will require Lottomatica to adhere to stricter financial reporting regulations, promoting transparency and accountability to shareholders and the public, which may lead to better corporate governance and decision-making.
Share the Post:
Elly Smith

Elly Smith

Elly Smith is a journalist working full time for She is passionate about covering trends and new tech the iGaming industry.