Gamenet 2q18 - sport payout change offsets regulation impact, goldbet to boost profitability
Gamenet, Italy’s No. 3 gaming firm, reported good 2Q18 results with stable sales yoy at €148m and EBITDA up 9% yoy to €21m, giving a 14.5% LTM margin as of June 2018 against 13.2% as of December 2017. Once again, Gamenet has adjusted its sport betting payout (winnings returned to players), lowering it to 80.3% during the quarter from 85.7% last year, to mitigate the impact from the tightening of regulation on gaming machines initiated in May 2017.
Co. is engaged in organizing and managing business activities of video lottery terminal, amusement with prize, betting and online and direct management of owned gaming halls.
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