By Kimberley Donoghue PBN Web Editor Twitter: @kdonog
PROVIDENCE – Gtech, a subsidiary of Italy-based Lottomatica, saw its full-year revenue increase 1.8 percent to 857.4 million euros, or about $1.14 billion, in 2011.
Gtech G2, its e-commerce solutions unit, saw full-year revenue surge 8.9 percent to 81.2 million euros, or about $107.7 million according to xe.com.
“Gtech’s same-store sales are expected to benefit from continued improvements in California and Illinois, and an increased customer focus on growth to help offset budget deficits,” Lottomatica said in a news release.
“With the next rebid cycle now years away, Gtech is set for contract price stability during which it can focus on initiatives to stimulate same-store sales growth,” the company added. “At the same time, the amount of capital required to renew the existing portfolio of contracts is now expected to be significantly lower than the last few years’ average.”
Gtech domestic same-store service revenue grew about 4 percent in 2011 from a year earlier. The company said it benefited from higher jackpot activity and continued growth of instant-ticket sales, particularly in California, where sales increased 34 percent, and in Illinois, where sales grew 16 percent.
Fourth-quarter Gtech revenue increased 15.2 percent to 249.2 million euros (about $330.5 million); Gtech G2 saw revenue increase 6.5 percent to 22.1 million euros (about $29.3 million) in the period.
Lottomatica said its Italian operations increased full-year revenue 49.8 percent to 1.88 billion euros (about $2.5 billion) in 2011. Fourth-quarter Italian operations increased revenue 38.9 percent to 509 million euros ($675 million).
PBN is now accepting applications for its newest award program and event for RI & Bristol County to celebrate the Manufacturing Renaissance that is evolving regionally and across the country. The deadline for applications is March 20th.
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.