Lottomatica posts strong full-year results
Costs down 71% as GTECH revenues rise 14.9m - G2 numbers not broken out.
Lottomatica’s preliminary results for 2011 show a 28.5% rise in revenues, with growth across all areas of the business ahead of its annual results presentation on 8 March, the company has announced.
Revenues totalled 2.97bn, up from 2.31bn in 2010, with Italian operations contributing 1.88bn, up 25% year-on-year due to improved lotto and Scratch & Win performance and the expansion of the video lottery terminal (VLT) market.
GTECH revenues rose by 14.9m to 857m after land-based division SPIELO International and online arm GTECH G2 both saw a rise in product sales. The divisions were merged in October last year, with president and CEO Walter Bugno pledging to ensure the group regains a market-leading position in an interview with eGaming Review.
EBITDA rose 19.5% to 970m, driven by the increase in GTECH sales and the strong performance of Italian operations. This was aided by a 71% drop in costs, after investing 800m to renew its Scratch & Win gaming licence.