Lottomatica has completed a fresh shake-up of its boardroom, appointing two new independent directors as the company continues to fine-tune its corporate governance.

The announcement was made in Rome on 5 September and follows a busy summer of changes. Earlier this year, Chairman Andrea Moneta and Non-Executive Directors Michele Rabà, Michael Saffer and Yulia Shakhova all stepped down from their positions. 

Their departures were partly offset in July, when the board added Laurence Van Lancker and Alessandro Fiumara as Executive Directors.

The latest update sees Tiziana Togna and Fabrizio Virtuani join the board as independent, non-executive directors. Both have been assessed under Italian law and the Corporate Governance Code to ensure they meet all independence criteria.

A company statement stressed that “the co-optation process completes the renewal of the board and strengthens corporate governance through the appointment of two additional independent directors and the reorganisation of board committees”.

Committee changes

The new arrivals have also prompted a reshuffle of Lottomatica’s internal committees. Augusta Iannini, who already chairs the Related Parties Committee and sits on the Risk and Control Committee, has been handed additional duties on the Nomination and Remuneration Committee.

Meanwhile, the Related Parties and Risk and Control Committees have both been expanded from three to four members. Togna will serve on the Related Parties Committee, while Virtuani has been added to the Risk and Control Committee.

Both directors will hold their seats until the next shareholders’ meeting, scheduled for April 2026, when the full board is due to be renewed. Lottomatica confirmed that neither Togna nor Virtuani own shares in the company.

Strong performance backdrop

The governance refresh comes on the back of a record year for the Milan-listed gambling group. In its 2024 results, Lottomatica reported adjusted EBITDA of €739m, a 24% rise on 2023 and comfortably ahead of its own guidance.

Total GGR for the year surged past €2bn for the first time in company history, fuelled by rapid growth across online betting and gaming. 

Online revenues hit €780m, a 50% increase on the prior year, helped by the acquisition of SKS365Group and its Planetwin365 brand. Further M&A activity saw the company purchase Cristaltec SPA and Distante SRL, deepening its presence even further in the Italian market.

This September will see Lottomatica listed as a FTSE MIB enterprise, the index of that serves as the primary benchmark for Italian equities, comprising the top 40 most valued and liquid companies contributing to the capitalisation of Italian markets.

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