Lottomatica approved CIRSA merger plan: Lottomatica stock sits 13.22 percent below its high

Published on 10/16/2026 at 09:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The deal sets 0.668 shares per CIRSA share and a EUR 744 million return. Lottomatica stock was EUR 24.15 on October 16, 2026, below EUR 27.83.

Merger terms and investor dates

The boards approved the 0.668 share exchange ratio on October 8, 2026.
Lottomatica's investor calendar lists November 3, 2026, for the nine-month results call.
Lottomatica stock trades at EUR 24.15 at 9:40 a.m. CEST at Lang & Schwarz on October 16, 2026.

Lottomatica, IT0005541336, Illustration mit AI erstellt.

Lottomatica (IT0005541336) stock was at EUR 24.15 at Lang & Schwarz on October 16, 2026, while the company advances a cross-border merger with CIRSA. The boards approved the plan on October 8, 2026, setting 0.668 new Lottomatica shares for each CIRSA share and a planned EUR 744 million capital return, according to iGaming Times.

Merger terms set the cash return

The transaction will absorb CIRSA into Lottomatica without liquidation. CIRSA is due to pay an extraordinary EUR 262 million dividend before completion, while Lottomatica intends to propose the EUR 744 million return after completion, according to The Globe and Mail.

The deal is expected to complete in the second quarter of 2027, subject to shareholder votes and regulatory clearances. The merger plan sets a 5.00 percent maximum for CIRSA shareholders choosing the cash exit, and the combined company would retain Lottomatica's name and Rome headquarters.

What dates shape the next steps?

The next investor date is November 3, 2026, when Lottomatica's investor page lists a conference call on nine-month 2026 results. Lottomatica shareholders are scheduled to vote on November 23, 2026, while CIRSA shareholders are scheduled to vote on November 25, 2026, according to Lottomatica and iGaming Times.

Buyback adds a capital allocation angle

Between October 5 and October 9, 2026, Lottomatica bought 354,791 ordinary shares for EUR 8.77 million at an average EUR 24.71 per share. By October 9, its treasury holding had reached 20,958,379 shares, equal to 8.33 percent of the share capital, according to TipRanks. The buyback gives investors a second capital allocation figure alongside the merger return.

Stock remains below the yearly high

The stock's EUR 24.15 Lang & Schwarz price is below the EUR 27.83 52-week high and above the EUR 19.20 low, both reported for October 15, 2026. The market capitalization was EUR 5.8 billion as of October 9, 2026, while the company operates in gaming and betting and remains listed on Euronext Milan.

Lottomatica was trading at EUR 24.15 at Lang & Schwarz on October 16, 2026 at 9:40 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Lottomatica stock.