Italian gambling revenues for SNAI decline

One of Italy’s major gambling groups, SNAI, has reported a 10 percent slide in its revenues for the first quarter of 2012 compared with the same period last year. The company reported revenues of Euro 141 million, with the dip felt mainly in sports betting and horseracing.

Q1 EBITDA consequently suffered, declining 18 percent to Euro 27.1 million, net profit was driven down a very worrying 97 percent to Euro 200,000, and operating income dropped 37 percent to €11 million.

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