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Despite the revenue growth, land-based gross profit dipped 0.7% to R2 billion, largely due to the heightened investment in marketing.
“Looking ahead, as land-based gaming evolves into a more digital and experience-led environment, these initiatives, together with the implementation of a low-cost operating model, are expected to improve performance, increase market share, profitability and generate stronger returns over the medium term,” the company said.
Alongside gaming, hospitality revenue rose 2.8% to R1.29 billion despite an impact of around R20 million from war-related cancellations.
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The week will conclude with a matchup on Monday Night Football between the New York Giants and the Los Angeles Rams, the putative Super Bowl favourite. On Kalshi, the Rams had a 75% probability to defeat the Giants as of Wednesday afternoon.
“It’s going to be a great test for our team,” said Giants quarterback Jaxson Dart on Wednesday.
Matt is primarily responsible for long-form feature coverage on complex sports betting scandals. He also provides coverage on finance, M&A and other technological developments.
About Fruit Snap
The Wednesday announcement promised the merger of the two listed gaming giants would create the second-largest listed global gaming and sports betting operator, with a pro forma adjusted EBITDA of approximately €2 billion ($2.3 billion).
Angelozzi, who is set to lead the combined company as CEO, told analysts on the post-announcement call that the deal was expected to be a “low-risk proposition” given the consistent growth demonstrated by both Lottomatica and Cirsa in recent years.
Between H1 2024 to H1 2026, Lottomatica and Cirsa have grown their revenues at CAGRs of 13% and 11% respectively.
