Description
GTech SpA, a leading game operator and technology provider, including the Spielo Casino slot machine brand, reported first-quarter 2014 results.
Consolidated financial and business highlights:- Operating income of 181 million euros ($248.3 million), stable at 43 cents per share- 6.7% Lottery Same-Store Sales Increase, Proves Resilience With Italian Operations- NFP Stable, Net Buy of Scratch & Win Stake on UniCredit
On Thursday, GTech SpA's board of directors, chaired by Lorenzo Pellicioli, approved consolidated financial statements for the first quarter ended March 31, 2014.
"GTECH enjoyed a very good first quarter. It reported results comparable to the same quarter last year, which was historically the company's best," said Marco Salah, chief executive of Gtech SpA. "The first quarter results give us confidence in our ability to meet full-year guidance, driven by sound growth in the Americas and stable results in international and Italian," he added.
"The net financial position at the end of March reflects the UniCredit acquisition and dividend for minority shareholders in the Italian Scratch & Win contract, which historically occurred in the second quarter," said Alberto Fornaro, chief financial officer at GTech SpA. "We are very positive about the trend in NFP. The recent S&P rating upgrade is further evi
dence of our long-term financial health," Fornaro added.
Italy's Lotomatica Group SpA bought fellow lottery provider Gtech Holdings for $4.7 billion in 2006, making it one of the largest lottery groups in the world. Lotomatica changed its name to Gtech SpA in June 2013 as part of the company's strategy to advance its business at a global scale.
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