Lottomatica approves CIRSA merger plan: stock sits 15.66 percent below its high

Published on 10/15/2026 at 11:21 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Lottomatica approved the CIRSA merger plan on October 13, 2026. Lottomatica stock costs EUR 23.86 on October 15, 2026, 0.08 percent above Xetra.

Scale and timing shape the deal

The proposed combination targets more than EUR 4.5 billion in annual revenue from September 2, 2026.
Operating synergies are targeted at EUR 180 million after the October 13, 2026 merger-plan approval.
Lottomatica stock trades at EUR 23.86 at 11:10 a.m. CEST at Lang & Schwarz on October 15, 2026, 0.08 percent above the Xetra close of October 14, 2026.

Lottomatica, IT0005541336, Illustration mit AI erstellt.

Lottomatica (ISIN IT0005541336) was trading at EUR 23.86 at Lang & Schwarz on October 15, 2026, at 11:10 a.m. CEST, up 0.08 percent versus the Xetra close of October 14, 2026 at EUR 23.84. Yogonet International reported on October 13, 2026 that Lottomatica and CIRSA had approved a common merger plan.

Merger plan sets larger scale

The combination would fold CIRSA into Lottomatica and targets more than EUR 4.5 billion in annual revenue. The companies also project approximately EUR 2.0 billion in pro forma adjusted EBITDA and EUR 180.0 million in operating synergies, according to Yogonet International.

Three dates show the deal path

On September 2, 2026, the proposed combination was first announced with the EUR 4.5 billion revenue target, as reported by Yogonet International. On September 16, 2026, Lottomatica bought back shares worth nearly EUR 6.0 million, according to Zonebourse. On October 13, 2026, the approved plan set a 0.668 new-share exchange ratio for each CIRSA share.

What does the merger mean for returns?

CIRSA shareholders are due an extraordinary EUR 1.56 dividend per share before completion. Lottomatica also plans to propose a EUR 744.0 million capital return after completion, while regulatory approvals remain necessary. Extraordinary and ordinary shareholder meetings are expected by the end of November 2026, according to Yogonet International.

The next reporting date is November 3

Lottomatica's investor-relations calendar lists November 3, 2026 for the earnings call on nine-month 2026 results, according to the company's investor-relations page.

Stock stays below its yearly high

The stock's EUR 23.86 quote is 15.66 percent below the EUR 28.29 52-week high and EUR 5.20 above the EUR 18.66 low, both as of October 15, 2026. The immediate market question is whether the merger's revenue and synergy targets can offset the execution and approval work ahead. Lottomatica was trading at EUR 23.86 at Lang & Schwarz on October 15, 2026 at 11:10 a.m. CEST, 0.08 percent above the Xetra close of October 14, 2026 at EUR 23.84. The further course of trading is shown by the continuously updated real-time quote of Lottomatica stock.