Lottomatica's core profit rises 3%, aided by online and sports betting growth
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Lottomatica reported a 3% growth in its third-quarter adjusted core profit on Tuesday.
- ✓The Rome-based firm got a boost from strong online and sports betting volumes.
- ✓This result follows the company’s recent plan to buy Spanish peer Cirsa for €2.8 billion, marking a major move in the European gambling market.
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Nov 3 (Reuters) - Italian betting firm Lottomatica (LTMC.MI), opens new tab reported 3% growth in its third-quarter adjusted core profit on Tuesday, thanks to double-digit growth in online and sports betting volumes.
The Rome-based company operates primarily in Italy, the largest regulated gambling market in Europe. This is the first round of results since it proposed a merger with Spanish peer Cirsa (CIRSA.MC), opens new tab through a €2.8 billion ($3.1 billion) acquisition in September.
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($1 = 0.8937 euros)
Reporting by Romolo Tosiani in Gdansk; Editing by Milla Nissi-Prussak
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