Lottomatica Q1 Income Climbs 69%

Italy’s Lottomatica S.p.A said this week that their net income in the first quarter of 2009 climbed 69% versus the previous year on higher revenues. The company is confident of solid growth in 2009 despite the adverse worldwide economic conditions.

The company’s revenues in the first quarter of 2009 climbed almost 30% year-on-year to €582.2 million, generating an operating profit of €155.2 million, up 15%, and a net profit of €71.9 million, a gain of 69%.

Its revenues from the Lottery segment improved 11.7% to €401.3 million, Sportsbetting revenues improved 125.6% to €73.7 million, Gaming solutions gained 94.9% to €67.3 million, and Commercial Services revenues gained 19.2% to €23.3 million.

The company’s Interactive Business saw revenues climb by more than 500% to €17.4 million, including €13.4 million in new revenues from Boss Media and St Minver, both of which were acquired in the second quarter of 2008. The company’s existing Interactive Business, specifically the provision of online and retail sports betting solutions to the commercial gaming market, grew by 29.3%.

Lorenzo Pellicioli, Chairman of Lottomatica, said: “Overall, Lottomatica Group had an excellent quarter, demonstrating the Company's resiliency during extremely difficult economic conditions. Driving these positive results were key investments and acquisitions made as part of a strategy to broaden our product portfolio and the geographies we serve.”

“Lottomatica Group has the capability, flexibility and insight necessary to prioritize opportunities throughout the world and deploy capital to ensure the highest return on our investments. We are encouraged that the actions we have taken and investments we have made are producing the results we had anticipated.”

In other words under the present global market conditions, Lottomatica appears to be unstoppable and the company is confident of going strong in the near future.

Written for Online Keno by Joy