Apollo takeover sees Lottomatica conquer Italian online betting rankings
Business consolidates alongside Gamenet and Goldbet to become major sports betting leader with May GGR of €29.2m
New-look Lottomatica has stormed to the top of the Italian online betting rankings for May after raking in monthly gross gaming revenue (GGR) of €29.2m.
Lottomatica, which finished seventh in April, has now consolidated with Gamenet and retail leader Goldbet following its €950m acquisition by private equity giant Apollo Global Management.
The combined business earned €9m more in GGR than closest challenger Sisal (€20.1m), accounting for 19% of the country’s overall online betting market in GGR terms.
Snaitech (€18.9m), Eurobet (€17.5m) and SKS365 (€14.5m) rounded off the top five, while bet365 (€13.7m) slipped to sixth.
However, it makes sense to group a top six rather than a top five moving forwards because there is a stark drop-off in GGR beneath bet365, with seventh-place E-play 24 next on €4.7m for May.
Bet365 still triumphed in the online turnover rankings for May, raking in €209.7m on a margin of 6.5%, to beat closest rival Lottomatica (€176.8m) on a margin of 16.5%.
Bet365 obtained 19.3% market share as a percentage of online turnover last month.