Americas gains hold GTECH up
as revenue, profit slip in 2013

GTECH S.p.A.’s full-year 2013 revenue declined four-tenths of a percent to $4.23 billion, while net income dropped 22.6 percent to $283.2 million. More

To continue reading this article, please do one of the following.



technology

Americas gains hold GTECH up
as revenue, profit slip in 2013

PBN FILE PHOTO
GTECH S.p.A. reported a 22.6 percent decline in 2013 profit compared with the previous year, following a 14.4 percent drop in revenue from the company's International segment. GTECH's Americas segment - which has its headquarters in Providence - was the only segment to post a year-over-year revenue increase, rising 13.9 percent last year.
Posted 3/13/14

PROVIDENCE – GTECH S.p.A.’s full-year 2013 revenue and profit declined compared with 2012, the company reported Thursday.

GTECH saw its revenue decline four-tenths of a percent to €3.06 billion ($4.23 billion based on the exchange rate of $1.38 per euro on Dec. 31), compared with €3.08 billion ($4.24 billion) in 2012.

GTECH’s profit fell 22.6 percent to €205.2 million ($283.2 million) from €265.2 million ($366 million) the year before.

In the fourth quarter alone, GTECH reported €773.1 million ($1.07 billion) in revenue, a decline of 4.8 percent compared with the €812.5 million ($1.12 billion) reported during the same three-month period a year earlier.

Net income fell 89.6 percent to €7.2 million ($9.9 million) from €69.4 million ($95.8 million) in the fourth quarter of 2012.

The Italian lottery company officially took on the name of its Providence-based subsidiary, GTECH Corp., in June 2013. The company is now divided into three segments – Americas, International and Italy – with the Americas segment headquartered in Providence.

The Americas segment showed a revenue increase in 2013, rising 13.9 percent to €994.1 million ($1.4 billion) from €872.4 million ($1.2 billion) during 2012. It was the company’s only segment to see an increase in revenue on a year-over-year basis for the full year.

GTECH attributed the Americas-segment performance to strong growth in same-store revenue, which benefited from the introduction of Powerball in California and the second-largest Mega Millions jackpot in history ($648 million) in December 2013. GTECH also reported higher service revenue from lottery management agreements in Illinois, Indiana and New Jersey.

The company’s International segment saw revenue drop 14.4 percent in 2013 to €331.1 million ($456.9 million) compared with €387 million ($534 million) a year earlier, a decline that GTECH attributed to lower EuroMillions jackpot activity. The Italy segment reported €1.7 billion ($2.4 billion) in revenue for 2013, representing a decline of 4.3 percent from the €1.8 billion ($2.5 billion) posted in 2012.

“During 2013, GTECH met or exceeded its key performance objectives and made significant gains in strategic growth segments while successfully executing a major reorganization,” said Marco Sala, CEO of GTECH S.p.A. “For the coming year, we expect to sustain our momentum as we build on these achievements.”

Sala said the company would especially focus on advancing its interactive offerings, most notably in the mobile gaming space. In February, GTECH launched the first U.S. mobile lottery app for the Illinois Lottery, allowing players in the state to purchase Powerball, Mega Millions and Lotto tickets using their Apple or Android devices.

Calendar
PBN Hosted
Events

Two Great Programs...One Great Event. PBN's Annual Celebration of Growth and Innovation is now underway. 2014 applications are now available. Deadline August 1st.
  • 40 Under Forty
    We're almost sold out. The 10th Anniversary of 40 Under Forty, and PBN is planni ...
  • Healthiest Employers
    See who the Healthiest Employers in RI are! And save the date - August 14th - at ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement