GTECH FY 2014 interactive revenues flatline
Interactive product sales up 300% but service revenues remain flat at $110m as firm posts overall EBITDA of $1.2bn
GTECH this morning reported full-year revenues from its interactive services remained flat year-on-year at $110m although it posted a 300% increase in sales of its online products.
The lotto and gaming giant saw most of its interactive revenues come from Italy, which accounted for $77.5m of service revenues, while its Americas business contributed just $7.2m.
GTECH saw total net revenues for the year remain flat at $3.4bn, with EBITDA up 4% to $1.2bn.
Interactive sales posted a strong fourth quarter, attracting revenues of $1.9m in the three months ended 31 December 2014, more than half the full-year total of $2.4m.
During the period GTECH was selected to provide the online platform for the Georgia Lottery and signed a deal to supply MGM Resorts with a mobile sports betting platform.
GTECH chief exec Marco Sala said the firm ended 2014 with “another robust quarter” with strong product sales in the Americans and internationally, and “steady service revenues overall”.
The results come as GTECH moves ever close to completing its $6.4bn acquisition of International Game Technology (IGT) after the deal was approved by shareholders last month.
“We are finalizing the acquisition of IGT, ready to initiate the integration of our two companies, and to consolidate our leadership of the global gaming industry,” Sala added.