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Lottomatica Group
Lottomatica Group traces its corporate roots to 1993, originally founded as a consortium established to manage Italy's national lottery concession.
Lottomatica Group
Lottomatica Group traces its corporate roots to 1993, originally founded as a consortium established to manage Italy's national lottery concession. Guglielmo Angelozzi assumed the role of CEO following the Apollo Global Management-backed carve-out that separated the gaming assets from the former IGT Plc into a standalone Milan-listed company, which debuted on Euronext Milan in May 2023 under the ticker LTMC. The wealth origin for the firm is not a family legacy but institutional — Apollo Global Management led the take-private of the legacy Lottomatica business in 2021, later structuring the re-listed entity that now represents Italy's largest dedicated gaming group by gross gaming revenue. The group's strategy centers on owning and operating Italy's primary lottery and sports betting concessions. Its asset-class exposure is concentrated in regulated gaming infrastructure, spanning three principal channels: online sports betting and iGaming, franchised retail betting points, and the nationwide lottery under the Lottomatica brand. Revenue derives from a high-volume, low-margin model where the firm collects a net commission on wagers placed through its digital and physical network. Confirmed brands in the portfolio include Goldbet and Betflag, which Angelozzi consolidated after the acquisition of Betflag SpA in 2024. The geographic footprint remains overwhelmingly focused on Italy, where the firm holds the largest Amministrazione Autonoma dei Monopoli di Stato (ADM) licensed share, though management has signaled potential bolt-on acquisitions in Southern European regulated markets. As of its 2024 annual results, Lottomatica Group reported pro-forma revenue exceeding €1.6 billion with an adjusted EBITDA of roughly €630 million, reflecting the full-year contribution of recent M&A. The company employs a workforce predominantly in Rome, with additional operational hubs supporting its digital and retail networks across Italian regions. In April 2024, Angelozzi completed the acquisition of SKS365 Malta Holdings Limited, the operator of the Planetwin365 brand in Italy, in a deal valued at approximately €639 million — consolidating the firm's position as the clear market share leader in Italian sports betting. Philanthropic or family-office structures are absent; the company operates strictly as a for-profit public limited society with quarterly reporting obligations to the Italian stock exchange authority. Lottomatica's structural differentiator lies in its concession-based economic moat. Italian gambling law grants limited, long-duration licenses for lottery and sports betting operations, creating a regulatory barrier that restricts new market entry. The re-listing in 2023 combined with aggressive M&A under Angelozzi transformed what was a single-lottery manager into a multi-channel gambling conglomerate that owns both the legacy Lottomatica lottery machine and two of Italy's largest sports-betting digital challengers. The firm does not act as a family office or investment partnership; instead it deploys retained earnings and committed credit facilities to acquire market share, making its capital-allocation process more akin to a publicly traded leisure portfolio than a conventional allocator.
General information
Firm type
Asset Manager
Year founded
1993
AUM
Undisclosed
Location
Region
Europe
Country
Italy
City
Rome
Corporate office
Rome, Italy
Principals
Guglielmo Angelozzi
Chief Executive Officer
Sector focus
Frequently asked questions
Is Lottomatica a family office or an institutional investment vehicle?
It is neither. Lottomatica Group is a publicly traded commercial operator on Euronext Milan, not a family office. The firm earns revenue via government gambling concessions and does not allocate third-party or family capital into external funds. Apollo Global Management took the legacy business private in 2021 and later re-listed it in 2023, but day-to-day strategy is determined by CEO Guglielmo Angelozzi with oversight from a public-company board.
Who runs investment decisions at Lottomatica?
CEO Guglielmo Angelozzi leads all major capital-allocation decisions, typically structured as M&A for regulated gambling licenses and digital technology platforms. The 2024 acquisition of SKS365 for €639 million and Betflag SpA earlier the same year are recent examples of Angelozzi's consolidation mandate. There is no CIO, investment committee, or family principal directing deployment.
What is the underlying wealth origin for Lottomatica?
There is no family wealth origin. The firm generates its own revenue from lottery and sports betting operations in Italy, retaining a portion as profit and deploying additional capital via a credit facility underwritten by a syndicate of European banks. Its equity value derives from public-market capitalization, not a family fortune.
Does Lottomatica invest in external private equity or venture funds?
No. The firm does not operate as a limited partner in external funds. Its corporate development strategy involves acquiring controlling stakes in other regulated gambling operators, such as Goldbet, Betflag, and SKS365, and integrating them into its multi-brand digital and retail network.
Which sectors does Lottomatica explicitly avoid?
The group has no footprint outside regulated gambling, and its public-company mandate confines it to geographies where gambling concessions are legally tendered. It avoids unregulated or grey-market jurisdictions and has never expanded into unrelated entertainment assets, real estate, or financial services.
How does Lottomatica source its deals?
Deal flow comes from proprietary M&A origination focused on licensed Italian gambling operators that hold ADM concessions. Because the Italian gambling market is consolidating after the 2023 licensing framework renewal, Angelozzi's team targets distressed foreign-owned operators looking to exit Italy, such as the Austrian-controlled SKS365.
What is Lottomatica's known posture on co-investments alongside external GPs?
Lottomatica does not co-invest alongside GPs in the traditional private-equity sense. When it makes acquisitions, it uses its own balance-sheet cash and committed debt facilities. The Apollo Global Management carve-out and re-listing was a corporate restructuring, not an ongoing co-investment vehicle.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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