GTECH enjoys ‘robust’ Q4 as IGT gets sued by High 5 Games

Italian lottery and gaming technology supplier GTECH enjoyed a “robust” Q4 thanks to strong product sales in its Americas and International markets.

Revenue in the three months ending Dec. 31 hit €809.5m, up 4.7% year-on-year. Earnings were up 6.7% to €281m but the company reported a net loss of €92.8m due to one-off costs, including those associated with GTECH’s $6.4b acquisition of US gaming device maker and social gaming operator International Game Technology (IGT). Excluding those one-offs, net income rose 83% to €53m.

The Americas segment reported revenue up 10% to €252m largely on strong VLT sales in Oregon. Healthy instant ticket sales also helped to offset a decline in multistate jackpot lottery sales. Since the quarter ended, GTECH expanded the Georgia Lottery’s online options and inked a deal with casino operator MGM Resorts to build GTECH’s first Nevada sportsbook and on-premise mobile gaming deployment.

The International division saw revenue rise 34% to €113m, thanks to product sales in Belgium, higher machine sales to casino customers in EMEA (Europe, Middle East and Africa) and higher systems sales in Europe. The quarter saw GTECH awarded up to 5,550 of Greek betting operator OPAP’s initial 16,500 new video lottery terminals.