GTECH online revenues flat as IGT deal edges closer
Supplier finds competitive Italian market tough as international and Americas markets help post 2% revenue growth
GTECH’s online revenues remained largely flat in Q3 2014 after the supplier reported a contraction in Italian revenues but saw its Americas and international markets grow.
Total interactive gaming revenues for the three months ended 30 September grew 2% to 23.8m, driven by increases in revenues derived from its businesses outside of its domestic Italian market.
Interactive gaming revenues from Italy stood at 16.6m in Q3, down 6% on the 17.6m it recorded in the corresponding period a year ago after online wagers from the jurisdiction also fell 6% during the period to 428.9m.
However, the reduction in Italian revenues was offset by 45% and 24% growth from the gaming supplier’s Americas and international markets respectively.
Online revenues will increase sharply in due course as GTECH looks to complete its acquisition of International Game Technology, which Marco Sala said was “progressing on schedule” and is expected to finalise in Q2 next year.
Although total group revenues remained largely flat throughout the year, Q3 EBITDA jumped more than 15% to 252.2m, driven by lower jackpot activity and the “diversity of GTECH’s revenue base”.