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Gruppo Lottomatica Earnings

11/23/09 - The giant Italian lottery and gaming operator Gruppo Lottomatica has released its financial results for the first nine months of 2009 showing a solid 14 percent year-on-year increase in revenues to Euro 1.592 billion.
 
The Rome-based group also posted EBITDA of Euro 596.4 million, up 4 percent when compared to the same period in 2008, and reported on Board appproval for a senior unsecured bond of up to Euro 750 million to re-finance part of its current debt burden. Pokerstars Italian
 
“Gruppo Lottomatica has just completed a [third] quarter in which we enjoyed significant commercial success,” said Marco Sala, chief executive of the Lottomatica group.
 
“We have positioned ourselves to be the sole concessionaire for the Italian scratch and win license. By securing approximately 20 percent of the newly available video lottery terminal licenses, we will significantly expand our Italian gaming solutions business. And, with the approval of the cross selling of multi-jurisdictional jackpot games in the US, same-store revenue growth will be enhanced.
 
“All of these developments will be significant contributors to the sustainability of our results. [Land] industry trends are encouraging as well. Same-store revenues appear to be on the upswing and anticipated operator opportunities are beginning to materialise.
 
“Further, we are seeing the beneficial impacts of governments expanding their lottery programmes to meet severe budget gaps.”

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“Despite the challenging economic climate, I am pleased to report that we experienced top-line growth in all of our businesses,” said Stefano Bortoli, Chief Financial Officer for Lottomatica.
 
“Following the recently-announced share capital increase to fund expansion opportunities in the Italian market, we will also improve our capital structure through the Board-approved Euro 750 million bond, which will allow us to refinance our existing debt, further diversifying funding sources and lengthening the average maturity of our debt."

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Gambling News :

Tain Fast Bet - Our readers will recall Tain recently increased the number of live events it covers each month to 23,000, covering both traditional markets such as football, tennis and US sports and the more obscure curling, biathlon and Water Polo.

Olympic Entertainment Group Mobile Gaming - In its full-year 2016 report, Olympic Entertainment Group (OEG) has informed the establishment of a Malta-based company registered to facilitate its intended expansion into remote gambling.

Circus Evolution HD Slot - Malta-based content provider World Match has released its first title of 2017, “Circus Evolution HD”, a 5-reel, 3-row, circus-themed adventure offering Free Spins, Wilds and a Bonus Game.

Kindred Group Gets EU Recommendation on Consumer Protection - Kindred Group (formerly Unibet) has become the first operator to successfully meet the requirements of the EU Recommendation on Consumer Protection and Responsible Gambling following an external audit.

17 Crown people still detained - Reports from China over the weekend suggest that the 17 Crown people still detained could be looking at another twelve months of imprisonment as investigations into their alleged and still unspecified crimes drag on

SB1400 Virginia Poker Skill Game Bill - Her bill SB1400 is currently with the Senate General Laws and Technology Committee, whose 15 members will decide whether to progress it or condemn the Senator to another year of failure.

Pennsylvania Video Gaming Association - With the focus on Pennsylvania as the most likely next US state to legalize online gambling as part of a general gambling expansion measure, reporters noted this week the emergence of a new lobbying group in the state - the Pennsylvania Video Gaming Association.

Stiffer Problem Gambling Penalties in UK - The Guardian newspaper reports that the UK Gambling Commission plans to unveil new enforcement strategies on problem gambling and money laundering prevention this month, laying down tougher penalties for operators who fail to tackle these issues.

Malaysian police Destroy over 5000 Gambling Computers - Malaysian police in Kajang have destroyed 5,042 computer sets seized in online gambling raids over the past two years, explaining that the action is designed to take the machines out of circulation.

Spartan Poker vs SpartanPoker name War - Pokerguru, which owns the brand SpartanPoker.com, has threatened to sue the Indian Poker Championship over its use of the title Spartan Poker, and recently published a notification that it is not associated with the IPC version of the brand.

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