ROME – Lottery and gaming giant Lottomatica Group said on Thursday its Providence-based subsidiary GTECH Corp. saw revenue decline 9.8 percent in the first half of 2011.
GTECH Lottery revenue dropped to 381.8 million euros ($546 million at an exchange rate of 1 euro per $1.43) in the first six months of the year from 423.4 million euros ($605.5 million) as seen in the first half of 2010.
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GTECH’s G2, the e-commerce solutions unit formed in 2009, contributed 38.9 million euros ($55.6 million) in revenue during the first half, a gain of 5.8 percent from the prior year.
For the second quarter, GTECH lottery revenue dropped to 192.2 million euros ($274.8 million), as compared with 230.5 million euros ($329.6 million) in the same 2010 period, mainly due to foreign currency translations, product sale cyclicality, and changes in GTECH’s contract portfolio mix, it said.
GTECH G2 revenue was 19.7 million euros ($28.2 million) for the three months ended June 30, up 7.1 percent over the same period last year. It recently provided the platform for Lottomatica’s new online casino and cash poker games in Italy.
Lottomatica reported a profit of 54.70 million euros ($78.2 million) in the second quarter, up from 45.7 million euros ($65.3 million) the previous year. Earnings per diluted share were 0.27 euros for this quarter, up from 0.21 euros a year earlier. Six-month profit for Lottomatica totaled 90.68 million euros ($129.7 million), an increase from the 87 million euros ($124.4 million) recorded in the first six months of 2010. Earnings per diluted share amounted to 0.40 euros in 2011, versus 0.38 euros in 2010.
GTECH said it secured long-term contract extensions in the second quarter with lotteries in Georgia, Jamaica, Slovakia, and a five-year lottery operator contract with Etesa in Colombia.
