MILAN Nov 7 Italian gaming company Lottomatica
said on Wednesday its net profit fell more than 16
percent in the third quarter in the absence of a one-time
foreign exchange gain as Italian revenues slumped 11 percent due
to higher payouts and a bigger tax bill.
The company said net profit was 48.9 million euros ($62.37
million), down from 58.5 million for the same time a year ago,
when the company reported a 29.7 million euro foreign exchange
Total revenue in the period was 740.2 million, compared to
740.9 million for the third quarter of 2011.
"Strong growth at GTECH Lottery and SPIELO International was
offset by lower revenue at the company's Italian operations,
because of...an exceptionally large payout for sporting bets and
for the higher taxes levied on video lottery terminals," the