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Gamenet: €545.7 Million in revenues for 2014

Gamenet: €545.7 Million in revenues for 2014

In 2014, Gamenet was again confirmed as one of the leading online gaming operators in Italy, with a total income of around 5.3 billion euros. 

In 2014, the Group recorded revenues of €545.7 million, largely in line with the previous year, despite the ongoing economic crisis. The Adjusted EBITDA amounted to €66.1 million, down from €74 million in 2013 (mainly due to declining margins in the AWP business), while net profit jumped to €4.2 million from €-33.1 million in 2013, including all judgements at the Corte dei Conti (Court of Auditors).

There was a positive progression in net debt, which dropped from €202.9 million in 2013 to €177.9 million in 2014, thanks to a cash flow generation of €25 million.

The decline in revenues related to the AWP segment was offset by a growth in the retail and VLT sectors, which were up by 3.5%, thanks to the increased number of medium-sized machines in operation and the rise in unit revenues, as a consequence of the payout situation and the continued focus on asset management.  The positive development of the Betting & Online segment contributed to the maintenance of revenues, which were up €25.6 million thanks to the rollout of betting rights purchased in 2013, the distribution network’s asset management activities and the launch of virtual games at the beginning of 2014.