GTECH revenues surge 24% in 2Q

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LOTTOMATICA GROUP S.p.A. reported a 24 percent surge in revenue during the second quarter for its Providence-based subsidiary GTECH.
Posted 7/26/12

ROME – Lottomatica Group S.p.A. reported a 24 percent surge in revenue during the second quarter for its Providence-based subsidiary GTECH Corp.

GTECH Lottery saw its revenue increase by €46.1 million to €238.3 million ($292.7 million) for the three months ended June 30, compared with €192.2 million for the same period 2011.

Lottomatica reported that revenue growth was driven by strong instant-ticket sales growth in California, Illinois and Texas as well as favorable foreign exchange rates (Adjusted for currency fluctuations, GTECH revenue increased 10.9 percent for the period).

GTECH’s international lottery same-store service revenue grew roughly 7 percent compared with the same period in 2011, primarily due to strong performance in Poland and Colombia, as well as the positive sales impact from GTECH’s customer in the Czech Republic, which had filed for bankruptcy in 2011.

During the second quarter, the Lottomatica subsidiary secured contracts or contract extensions in Oregon, Costa Rica, Finland and Ireland

Across all of its business segments, Lottomatica reported an 11 percent, €40.1 million increase in total revenue to €747.7 million during the second quarter of 2012, compared with €702.6 million during the same period in 2011.

Lottomatica Group’s net income increased 38 percent to €63.8 million ($78.4 million) compared with €46.2 million during the second quarter of 2011.

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