Lottomatica could consider further M&A activity after a record performance in Q1.
Lottomatica reported record first-quarter revenue of €584.5 million ($659.8 million) on the back of double-digit growth across its online and sports betting segments in Q1. Speaking to analysts after the earnings release on Wednesday, the Italian-facing operator refused to rule out further M&A activity to expand its offering.
Revenue in the three months to 31 March surpassed the previous year by 33%, figures from Lottomatica showed. It is the highest Q1 revenue total in the company’s history.
The increase was driven by growth within the group’s online and sports betting businesses. Both segments reported a 59% year-on-year rise in revenue during the quarter, with total bets also higher across each business.
