GGRAsia – GTech SpA announces Q1 2014 results

GTech SpA announces Q1 2014 results

May 08, 2014 Newsdesk Industry Talk, Latest News

GTech SpA, a leading gaming operator and provider of technology – including the Spielo casino slot machine brand – has announced its first quarter 2014 results.

Consolidated financial and business highlights:
- Operating income of EUR181 million (US$248.3 million) and stable earnings per share at EUR43 cents
- 6.7 percent lottery same-store revenue growth in the Americas; Italian operations demonstrate resiliency
- Net financial position (NFP) stable, net of buyout of Scratch & Win interest from UniCredit

GTech SpA’s board of directors, chaired by Lorenzo Pellicioli on Thursday, May 8 approved the consolidated financial statements for the first quarter ended March 31, 2014.

“GTech enjoyed a very good first quarter. We delivered results that were comparable to the similar quarter last year, which historically was the Company’s highest on record,” said Marco Sala (pictured), chief executive of Gtech SpA. “Driven by healthy growth in the Americas and stable results in International and Italy, our first-quarter performance gives us confidence in our ability to meet our full-year guidance,” he added.

“Net financial position at the end of March reflects the UniCredit buyout and distributions to minority shareholders in the Italian Scratch & Win concession, which historically occurred in our second quarter,” said Alberto Fornaro, chief financial officer of GTech SpA. “We feel very positive about the trends in NFP. The recent upgrade in our credit rating by Standard & Poor’s is further testimony to our long-term financial strength,” added Mr Fornaro.

Italy’s Lottomatica Group SpA took over fellow lottery provider GTech Holdings in 2006 for US$4.7 billion, becoming one of the largest lottery groups in the world. Lottomatica changed its name to Gtech SpA, in June 2013 as part of the company’s strategy to develop the business on a global scale.