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Lottomatica lifts FY adjusted EBITDA forecast, Q2 core profit up 17%

Reuters
·1 min read

(Reuters) - Italian betting firm Lottomatica on Tuesday lifted its full-year forecast on adjusted core profit (EBITDA) between 700 and 730 million euros ($757.61-790.08 million) from a 680-700 million euros range on the back of strong organic growth in Q2.

The Rome-based gambling firm's second-quarter adjusted core profit came in at 167.8 million euros, up 17% year-on-year.

"In light of the strong performance, the delivery in cost synergy realisation, and expected bolt-on acquisitions, we upgrade our guidance for FY 2024," CEO Guglielmo Angelozzi said in a statement.

($1 = 0.9240 euros)

(Reporting by Romolo Tosiani; Editing by Eileen Soreng)