IZI Group, the operator of the National Lottery and the Dragonara Casino, registered strong results in the second half of 2024.

In its latest interim financial statement, IZI Group said it delivered “robust” financial performance over the period, across multiple metrics. Total turnover increased 12 per cent to €448 million, while total player winnings amounted to €402 million, a 13 per cent increase compared to the winnings paid out in the same period in 2023.

Total gross gaming revenue reached €45.3 million, an increase of 5 per cent.

The revenue growth resulted in a a substantial increase in EBITDA of 24 per cent, to €13.4 million, while the EBITDA margin improved 4.5 per cent from 25 to 29.5 per cent, signalling enhanced operation efficiency.

National Lottery plc was the largest contributor, accounting to 64 er cent of the group’s total EBITDA. This was followed by Dragonara Gaming Ltd, which generated 28 per cent of the group’s EBITDA. The remaining 8 per cent was mainly generated by IZI Interactive Ltd and Dragonara Interactive Ltd.

Operating profit for the period rose to €5.2 million, a material improvement of 68 per cent from the €3.1 million generated during the same period in 2023.

Profit before tax rose to €2.7 million, as compared to the €0.3 million generated the previous year, representing a “remarkable” 740 per cent increase.

IZI Group said the strong performance was driven by a combination of robust revenue growth, a significant improvement in EBITDA, and lower finance costs, “all stemming from the effective management of both operating and non-operating entities.”

Cash flow from operations increased by 10 per cent over the same period of the previous year, reaching €11.4 million.

“This solid financial foundation positions the group for accelerated growth in the coming months, particularly in the context that the larger share of capital investment has now been completed,” it said.

The group added that the “robust financial performance underscores strong operational execution across all business units.”

Moving forward, the IZI Group’s Board of Directors said it will “work closely with management to sustain momentum while placing a stronger emphasis on efficiency gains, operations optimisation and synergies across its businesses.”

As part of its broader expansion strategy, the group said it is actively pursuing its internationalisation strategy, particularly in the casino, video lottery terminals (VLTs) and historical horse racing (HHR) sectors.

Following the reporting period under review, IZI Group incorporated a new holding entity in Luxembourg, in which is holding an 80 per cent stake. This entity will serve as the principal vehicle for the group’s internationalisation strategy, facilitating expansion into key markets across Europe and Latin America.

The group said it will leverage its established relationships with industry leaders and operational expertise to replicate its successful business model on an international scale, positioning it to capitalise on high value opportunities in both mature and emerging markets.