INTERACTIVE MAKES A USEFUL CONTRIBUTION TO GTECH Q4
15th March, 2015 at 16:03:09
But Italian revenue from the division slips 7 percent.
The interactive division of Italian gaming technology and lottery provider GTech made a useful contribution to its fourth quarter results according to a report received by AZ Online Casinos
this week, showcasing overall interactive revenue of Euro 28 million - up 7 percent.
American and International interactive contributions were both up strongly, whilst interactive product sales soared almost three-fold to Euro 1.7 million. Unfortunately, that success did not extend to the group's home nation, where interactive gaming revenue slipped 7% to Euro 18.5 million.
Management characterised the overall performance of the GTech group as robust, with quarterly revenue up 4.7% y-o-y to Euro 809.5 million, and earnings reaching Euro 281 million, a 6.7% improvement on the corresponding quarter last year.
Despite this, a net loss of Euro 92.8 million was recorded for the quarter and attributed to costs associated with GTech's forthcoming multi-billion dollar acquisition of International Game Technology. Stripping out those costs, net income was up an impressive 83% to Euro 53 million.
In common with the interactive results, operations in America and in the international business arena were strong, with revenues from the Americas up 10% to Euro 252 million, and a 34% rise in International revenues, which reached Euro 113 million, mainly from Europe.
Related News Tags: Lotteries, Italy, USA