Lottomatica pleased by full-year performance

Rome-based Lottomatica recently announced that it intends to change its name to Gtech SpA while December saw it rebrand its consolidated Spielo International and Gtech G2 subsidiary as Spielo G2.

The Italian firm revealed that projected earnings before interest, tax, depreciation and amortisation for 2012 are expected to be 1.032 billion euros, which is 6.3 percent improvement year-on-year, while capital expenditure over the twelve months dropped over 25 percent when compared with 2011 to 256 million euros.

Lottomatica reported that all of this should leave it with 2.546 billion euros in the bank, which is 7.1 percent less than 2011, although it plans to have achieved or exceeded every one of its guidance targets for 2012.

“Revenues for Lottomatica’s Italian operations were solid despite the unfavourable economic climate although [these] were impacted by increased video lottery terminal taxation, higher sportsbetting payouts and lower Lotto late number wagers,” read a statement from Lottomatica.

“Gtech revenues benefited from the impact of same-store revenue growth initiatives and high US jackpot levels, compensation for Northstar’s management services in Illinois, higher International product sales and favourable foreign exchange rates. Higher product sales in the Canadian market, higher recurring revenue from the video lottery terminal market and favourable foreign exchange rates contributed to revenue growth for Spielo International versus the prior year.

“On March 12, 2013, Lottomatica will announce its 2012 audited results and review the 2013 guidance provided last year, taking into consideration the results of 2012,” concluded the statement.