ROME – Lottomatica Group S.p.A. reported a 25.3 percent increase of revenue during the first quarter for its Providence-based subsidiary GTECH.
GTECH Lottery saw its revenue increase by €48 million to €237.5 million ($317.2 million) for the three months ended March 31, compared with €189.5 million for the same period 2011.
Lottomatica reported that revenue growth was driven by strong year-over-year jackpot activity and instant ticket sales in California, Illinois and Texas.
GTECH also benefited from the record $656 million Mega Millions jackpot during the period.
“Of the 44 jurisdictions offering the Mega Millions multi-state game, more than half are GTECH’s online customers,” according to the Lottomatica release.
During the first quarter, Lottomatica Group merged its GTECH G2 gaming segment into Spielo International. First-quarter revenue for Spielo were up 2 percent to €69.2 million compared with the same period in 2011.
Across all of its business segments, Lottomatica reported an 11 percent, €78.2 million increase in total revenue to €780.3 million during the first quarter 2012, compared with €702.1 million during the 2011 first quarter.
Lottomatica Group’s net income nearly doubled, increasing 98.6 percent to €71.4 million ($95.4 million) compared with €35.9 million during the three months ended March 31 2011.
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.