Italian lottery supplier GTech SpA on Thursday reported a drop of 9.6 percent in net income for the second quarter of this year in comparison with the same period last year. The company posted net income of EUR60.8 million (US$81.4 million).
All major financial indicators were down, with the company’s total revenues dropping by 1.4 percent to EUR751.1 million and operating income down by 3.4 percent, to EUR156.0 million.
GTech last month announced that it entered into a definitive merger agreement with U.S.-based gaming supplier International Game Technology (IGT). GTech will acquire IGT for US$6.4 billion, comprised of US$4.7 billion in cash and stock, and the assumption of US$1.7 billion in net debt.
“Despite a comparison with a very good second quarter last year that benefited from product sales related to the Canadian video lottery terminal replacement programme and significant jackpot activity, GTech was able to absorb the loss of those impacts and produce comparable results,” chief executive Marco Sala said in a statement.
“That is a significant accomplishment that demonstrates the resiliency and growth potential of our core business,” Mr Sala added.
Jan 22, 2018Landing International Development Ltd, the promoter of the Jeju Shinhwa World resort on South Korea’s Jeju Island, is working to attract independent travellers from North and Southeast Asia via...
Jan 22, 2018
Jan 22, 2018
Dec 29, 2017It could be 2024 before a casino resort is opened in Japan,...
Dec 27, 2017The year 2017 could prove to have been a turning point in...
Oct 25, 2017The deployment of radio frequency identification (RFID)...
”We expect Goa to quickly become a US$1 billion market as it transitions to land-based casinos (from US$150 million today), which is still just a fraction of India’s total GGR potential of US$10 billion to US$17 billion”
Analyst at Union Gaming Securities Asia