Italian growth boosts Lottomatica revenues

The company achieved EBITDA of 430.6 million euros for the first half of 2009 with an operating income of 261.3 million euros, up 4.5 % from 250 million euros a year ago. Lottomatica’s lottery business contributed revenues of 766.6 million euros, up 7.2 % year-on-year, with gaming solutions contributing a further 137.4 million euros, a gain of 60.3 % versus first half 2008.

The company’s sports betting segment also reported strong growth with revenues climbing 37.1 % to 96.4 million euros, while interactive revenues climbed 247.7 % to 52.1 million euros. Gtech G2, Lottomatica’s interactive division consisting of Boss Media, St. Minver, Finsoft and Dynamite Idea, contributed 32.9 million euros to total interactive revenues.
Commercial services contributed a further 46.2 euros to revenues, up 10.7 % year-on-year.

“Despite extremely challenging economics conditions, Lottomatica Group achieved solid growth and sustained its momentum during the first half of the year,” said Marco Sala, CEO of Lottomatica Group.

“Governments are seeking increased revenues from gaming and we have positioned Lottomatica Group to take advantage of these expanded opportunities across our worldwide customer base and particularly in Italy. We are also seeing the positive impact of our investments in new delivery channels and games. All in all, we had a good first half and are encouraged by our prospects for the second half of the year.”“Our half-year results are in line with our expectations,” added Stefano Bortoli, Lottomatica CFO.

“We have shown that we can generate growth during a recessionary economy, underscoring the resiliency of our business and the high visibility we have into our earnings. Moody’s and Standard & Poor’s also recently reaffirmed our investment grade ratings of Baa3 and BBB-, respectively, with a stable outlook. Maintaining these investment ratings remains a key priority for Lottomatica, going forward.”

The company also said that it has entered into a Memorandum of Understanding to participate in the potential new tender for the Italian Scratch and Win concession with a consortium consisting of Lottomatica, Scientific Games Corporation and the Tobacconist Association.