Increased Americas revenues boost GTECH Q3s
Revenues from sports betting in Italy up approximately 69% to 25m due to lower payouts
Gaming and lottery supplier GTECH has posted a drop in revenues for the third quarter of 2013 despite its Americas and lotteries businesses performing well.
Overall consolidated revenues were 730m compared to 740m in Q3 2012, with the company’s international segment posting reduced revenues of 81m versus 113m in Q3 last year.
Revenues in Italy were 398m compared to 412m in the third quarter of last year, with lotteries contribution up 2%.
Revenues from sports betting in Italy were up approximately 69% to 25m due to lower payouts, while reported EBITDA was down 34m to 139, principally due to the one-time provision for the machine gaming litigation settlement.
But revenues from the Americas were up 17% to 251m, driven by growth in same store revenues which benefited from Powerball jackpot activity and the introduction of Powerball in California.
Improvements in instant-ticket sales, principally in Texas, North Carolina, and California also contributed to Americas revenue growth. EBITDA grew from 54m to 63m.
“We achieved good results in the third quarter highlighted by continued growth in the Americas and gains in the Italian Lotteries,” said Marco Sala, CEO of GTECH. “We maintain our disciplined approach to capital allocation, while continuing to explore potential new global operator opportunities.”