Snai Report Flagging 9m Financials

Online casino gaming and horse racing revenues dip

Italian operator SNAI reported a mixed performance in terms of its nine months to September 30, 2014 period saying strong results from VLTs and the introduction of virtual sports betting partially offset a decrease in revenues from horse race betting.

Key financial highlights for the first nine months of the year ending September 30, 2014 include:

– Revenues amounting to Euro 393.9 million, up 11.8 percent

– EBITDA at Euro 81.2 million, up 25.9 percent

– Net financial position of Euro -424 million

– Sports betting stakes amounted to Euro 551.6 million, down 7 percent compared to 9M/2013. Of these, Euro 99.8 million originated from SNAI's online channel.

– Net revenue for sports based games, including pool betting, amounted to Euro 103.8 million (9M/2013: Euro 103.6 million)

– Horse race wagers amounted to Euro 183.7 million (9M/2013: Euro 252.8 million), a decrease of 27.3 percent.

– Horse race revenues amounted to Euro 16.8 million (9M/2013: Euro 21.4 million), a decrease of Euro 4.6 million.

– Revenues from online skill and casino games amounted to Euro 15.1 million (9M/2013: Euro 18.9 million).

– Virtual sports betting stakes rose significantly to Euro 262 million (9M/2013: Euro 33.4 million).

Online Casino News Courtesy of Infopowa

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The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.

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