€636.9M Revenue. €67.3M EBITDA. +68.4% Net Profit – Luckia Scales Profitably Under José González Fuentes and Roberto Bértolo
Luckia Gaming Group has published its 2025 annual report, and for a privately held operator that usually lets its brand work do the talking, the document is unusually direct about the numbers. Consolidated revenue reached €636.9m, up 5.6% on 2024, while EBITDA rose 15.4% to €67.3m. Net result climbed 68.4% to €18.5m, and the group also reported a consolidated result of €22.5m and cash flow of €46.6m. The story underneath those figures is a diversified gaming operator using a disciplined balance sheet to keep expanding while parts of the wider market are still cutting back.
Why Luckia’s €636.9m revenue print matters for the gaming market
Headline growth of 5.6% is solid rather than spectacular. What gives the result weight is the quality of the earnings beneath it. EBITDA outpaced revenue by a wide margin, growing 15.4%, and the net result rose almost 70%, which points to margin expansion rather than revenue bought with heavy spending. Return on equity reached 25.6%, up from 19.7% a year earlier. For a multi-vertical operator spanning casinos, online, arcades and retail betting, that combination signals operational leverage is starting to show.
How online and sportsbook became 58% of Luckia’s business
The clearest structural shift in the report is where the money now comes from. Betting and online generated €369.8m, or 58.1% of group revenue, making it comfortably the largest contributor. The operator and commercial business added €89.3m, casinos and hotels €84.9m, and the arcades line €60.7m. Luckia credits its LaLiga sponsorship and a more digital marketing model for lifting brand visibility, and the engagement numbers back that up: its social channels reached 207 million accounts across the year, registrations passed 252,000 (up 74%), and first-time deposits topped 81,000 (up 22%).
What full control of Casino de Bogotá signals about Luckia’s strategy
Luckia’s casino division posted the best result in its history, with Chile and Colombia singled out as the standout markets. In Colombia, the group acquired the remaining 50% of Casino de Bogotá, moving from a shared position to full control and completing an integral remodel of the venue. It is a straightforward operator read: consolidate ownership in a market that is already performing, then run the first full year under single control to push the table-games segment, which makes up roughly 65% of that casino’s revenue mix.
The low-leverage engine most operators would envy
Here is the part operators care about. Luckia held net financial debt at 1.25 times EBITDA, a conservative level that gave it the room to fund the Bogotá buy-out without stretching its risk profile. That same headroom underwrites a visible pipeline: a rebuilt La Marina casino in Lima planned across two phases, platform homologation for Portugal expected to complete in the first half of 2026, and a digital poker launch pencilled in for the first quarter of 2026. Low leverage is not a headline in itself, but it is the mechanism that lets an operator keep buying and building when capital is tighter elsewhere.
The sustainability claim still awaiting sign-off
One detail is worth naming plainly, because Luckia’s own materials are not fully aligned on it. The new 25,000 m² A Coruña headquarters is a real milestone, with a geothermal system of 70 wells reaching 150 metres deep that the company says cuts climate-control energy use by up to 75%, plus 222 photovoltaic panels. Regarding the LEED Platinum certification, Page 6 of the Annual Report PDF explicitly highlights the building as the first in Galicia to obtain this status, while pages 12 and 29 note that final verification steps are being finalized. Both the press posts and the main report highlight this achievement. Until the group confirms the final status, the accurate reading is that the HQ is in the last verification stage for LEED Platinum, not that the award is in hand.
What should the industry watch from Luckia in 2026?
The 2025 report reads as a company that has earned optionality. With online now the majority of revenue, a casino division at record profitability, and leverage low enough to keep acquiring, the questions for the year ahead are about deployment rather than survival: how quickly the Peru and Portugal projects convert, whether the poker licence adds meaningful online depth, and whether Luckia uses its balance sheet for further consolidation the way it did in Bogotá. On the evidence of this report, the capacity is clearly there.
Source: Luckia
