Italy's Lottomatica raises outlook after completing SKS365 deal
30/04/2024 07:08
April 30 (Reuters) - Italian gambling firm Lottomatica
LTMC.MI upgraded its full-year adjusted core profit (EBITDA)
guidance to a range of 680-700 million euros ($728-$749 million)
on Tuesday citing completion of its acquisition of online
betting provider SKS365.
It posted a first-quarter adjusted EBITDA of 149.5 million
euros, down 4% from a year earlier.
"We have successfully completed the acquisition of SKS365 in
April 2024 and therefore upgraded the guidance and continue to
execute on our strong pipeline of bolt-on M&A," CEO Guglielmo
Angelozzi said in a statement.
Its upgraded adjusted EBITDA guidance includes eight months'
contribution from SKS365.
The Rome-based betting firm also raised its 2024 revenue
guidance to a range of 2.02-2.07 billion euros.
($1 = 0.9347 euros)
(Reporting by Romolo Tosiani; editing by Jason Neely)
((Romolo.Tosiani@tr.com;))