Lottomatica approves Cirsa merger plan. Lottomatica stock sits 12.14 percent below its high

Published on 10/13/2026 at 09:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The plan fixes 0.668 Lottomatica shares per Cirsa share on October 9, 2026. Lottomatica stock costs EUR 24.45 on October 13, 2026 below its EUR 27.83 high.

Lottomatica and Cirsa approved a merger plan on October 9, 2026, with shareholder votes scheduled for November 23, 2026.
The plan fixes 0.668 Lottomatica shares per Cirsa share and includes a EUR 262.0 million Cirsa dividend before completion.
Lottomatica stock was trading at EUR 24.45 at Lang & Schwarz on October 13, 2026, 12.14 percent below its EUR 27.83 52-week high.
Lottomatica reported EUR 563.6 million in second-quarter 2026 revenue and EUR 44.4 million in net income.
The company has scheduled its nine-month 2026 results call for November 3, 2026.

Lottomatica, IT0005541336, Illustration mit AI erstellt.

Lottomatica (ISIN IT0005541336) was trading at EUR 24.45 at Lang & Schwarz on October 13, 2026 at 9:29 a.m. CEST, 12.14 percent below its EUR 27.83 52-week high. On October 9, 2026, the company and Cirsa approved a common merger plan that fixes 0.668 Lottomatica shares for each Cirsa share, according to iGaming Times.

Three deal milestones and figures

On September 2, 2026, Lottomatica announced the planned combination with Cirsa in a transaction valued at EUR 2.8 billion to EUR 3.0 billion, as reported by Mitchell Lake. The proposed structure would create a larger gaming group with exposure beyond Italy.

On September 23, 2026, Equita raised its Lottomatica target from EUR 31.00 to EUR 36.00 and retained its Buy recommendation, according to Repubblica. The target increase places the analyst view EUR 11.55 above the Lang & Schwarz price.

On October 9, 2026, the merger plan set a EUR 262.0 million Cirsa dividend before completion and a EUR 744.0 million capital return afterward, according to iGaming Times. Those figures make the shareholder vote and the financing structure central checkpoints for the investment case.

What does Cirsa add?

Lottomatica chief executive Guglielmo Angelozzi said the group expects EUR 100.0 million of cost synergies and EUR 200.0 million to EUR 300.0 million of incremental EBITDA from revenue synergies over three years, in an interview published by Milano Finanza on October 9, 2026. The operating test is therefore measurable: integration must convert the announced technology and digitalization plans into those quantified benefits.

Next dates for shareholders

Lottomatica's investor-relations page lists November 3, 2026 for the earnings call covering nine-month 2026 results. The merger plan is scheduled for shareholder votes on November 23, 2026, according to iGaming Times.

Stock remains below its yearly high

Lottomatica's market capitalization was EUR 5.7 billion on October 13, 2026, while the 52-week range stood at EUR 19.20 to EUR 27.83 on October 12, 2026. The EUR 24.45 Lang & Schwarz price was 12.14 percent below the upper end of that range, giving the merger timetable a clear market reference without turning the article into an investment recommendation. The further course of trading is shown by the continuously updated real-time quote of Lottomatica stock.