IZI Finance plc, the finance arm of IZI Group, has launched a €30 million, 10-year bond issue as the company looks to increase its warchest and expand overseas.
The unsecured bond comes with a 5.5% coupon. IZI says it intends to use the bulk of money raised to finance opportunities it identifies for international expansion, with additional capital reserved to refinance existing loans.
It is the company’s second bond issue. The new bonds will be listed on the Official List of the Malta Stock Exchange (MSE).
IZI said it intends to leverage its expertise and experience in concession-based operations within the lottery and land-based casino verticals to expand internationally.
IZI Group is a casino and lottery operator with a business portfolio that includes the IZIBET brand, Dragonara Casino licence and national lottery concession.
A strengthened position backed by proven performance
The group generated turnover of €561 million in the six months to December 2025, up 25% year-over-year, while attaining gaming revenues of €53.9 million, an increase of €8.6 million for the same period last year, equivalent to a growth rate of 19%.
It ended the period with an EBITDA of €18M, an increase of 35% when compared to the same period last year. The group is expected to surpass the turnover milestone of €1 billion with gross gaming revenues expected to surpass the €100 million for the first time in FY2026.
The group’s performance is supported by a clear focus on innovation, digital transformation and operational excellence, across its core business divisions, including the National Lottery of Malta, the Dragonara Casino and its iGaming arm.
The group continues to strengthen its leadership in the industry through focused investments, while upholding its commitment to sustainability and ethical business practices as evidenced by its certifications from the World Lottery Association (WLA), European Lotteries (EL) and membership in ULIS, the international body safeguarding sports integrity.
Supporting strategic growth internationally
International expansion stands as the most relevant and transformative strategic goal for the group, positioning the IZI Group to leverage its deep operational expertise, regulatory experience and proven management of large-scale, concession-based gaming environments.
Having built a market-leading ecosystem in Malta, spanning lottery, casino, sports betting and digital channels, IZI Group is now uniquely equipped to pursue international concession opportunities where governments and national entities seek reputable, reliable, innovative, and responsible operators with a proven track record.
“Committed to delivering sustainable and long-term growth”
By replicating its successful operating model, technological capabilities, and governance standards, the group aims to repeat its success in new jurisdictions, diversify revenue streams, and secure long-term, stable growth anchored in international gaming markets.
Commenting on the bond listing, Johann Schembri, founder and chief executive officer of IZI Group underlined the group’s commitments going forward.
“We remain committed to delivering sustainable and long-term growth, supported by prudent financial management and robust investments, that strengthen our operating ecosystem. Expanding into international markets through a proven business model, is the natural next step for IZI Group as we take our next steps in leveraging our expertise to deliver value and scale up our operations in new jurisdictions,” he said.
Investor information
Details about the bond issue, including its prospectus, are available online or from authorised financial intermediaries.
The bond issue application process runs until March 24, although the company reserves the right to close it earlier if there is an oversubscription.
