Market PositionThe company's #1 position in the high-value Italy market is expected to benefit from material offline to online migration.
ProfitabilityAdjusted EBITDA reached EUR 202m, beating expectations, with margins expanding +305bps YOY on the back of volume growth and PWO synergy realization.
ValuationLottomatica is considered attractively valued, trading at a lower price-to-earnings ratio compared to its peers.