February 12, 2013 / 5:16 PM / in 5 years

UPDATE 1-Lottomatica says 2012 revenues hit target

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MILAN, Feb 12 (Reuters) - Italian gaming company Lottomatica said on Tuesday its provisional revenues for the year 2012 were 3.08 billion euros ($4.15 billion), towards the top end of previous guidance.

Underlying profit (EBITDA) was 1.03 billion for the period, up by 6.3 percent and just ahead of target.

Lottomatica is one of the world’s biggest lottery operators and has defied economic gloom in Italy and beyond over the past year.

“Revenues for Lottomatica’s Italian Operations were solid despite the unfavorable economic climate,” the company said, noting that higher taxation and sports betting payouts had a negative impact.

Its GTECH business in the United States got a boost to revenues from higher jackpot levels, international sales and favourable exchange rates. Rising sales in its Canadian market had also contributed to the group’s positive results.

$1 = 0.7427 euros Reporting by Jessica Donati; editing by Keith Weir

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