GTECH revenue rises 15% in 3Q

EVEN AS PROFITS dropped in total across the company, Rome-based Lottomatica Group S.p.A reported an increase in both profits and revenue for its Providence-based subsidiary, GTECH Corp.
Posted 11/7/12

ROME – Lottomatica Group S.p.A. reported a 15.4 percent increase in revenue during the third quarter for its Providence-based subsidiary GTECH Corp.

GTECH Lottery saw its revenue increase by €34.8 million to €261.1 million ($333.1 million) for the three months ended Sept. 30, compared with €226.3 million for the same period in 2011.

Lottomatica reported that revenue growth was driven by strong instant-ticket sales in California, Illinois and Texas. GTECH’s instant-ticket sales grew 11 percent compared with the third quarter of 2011.

International Lottery same-store service revenue grew 7.7 percent year over year, specifically due to strong performance in Colombia and the United Kingdom as well as sales growth in the Czech Republic.

During the third quarter, GTECH secured contracts or contract extensions in Arizona and South Dakota, as well as in Argentina, Lithuania and New Zealand.

Across all of its business segments, Lottomatica reported a slight drop of €700,000 in total revenue to €740.2 million during the third quarter of 2012, compared with €740.9 million during the same period in 2011.

Lottomatica Group’s net income dropped 16.4 percent to €48.9 million ($62.4 million) compared with €58.5 million during the third quarter of 2011.

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