GTECH revenue up 25% in 1Q

By PBN Staff
Twitter: @ProvBusNews

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.