NOVOMATIC AG reached $3.03bn in sales during 2017 thanks to its Gaming Operations segment which represented 63% of total revenue at $1,920m according to the company’s latest financial report.

Austrian-based NOVOMATIC are producers and operators of gaming technologies. Despite the success of their Gaming Operations segment the companies Gaming Technology sales actually decreased slightly from $1,146m in 2016 to $1,133m last year.

The strong performance from the Gaming Operations segment which increased 19.6% from $1,604m in 2016 to $1,920m in 2017 meant that overall sales increased 11% from the previous year. This helped the company achieve $74.3m in consolidated net income after tax.

Stricter gaming regulations in Austria, in particular the payout ratio for gaming machines at 85-95% saw NOVOMATIC payout approximately $1.33bn in 2017 compared to $1.21bn in 2016.  Austria alone cost the company $110m in tax and duties compared to $102.8m the previous year.

Cash flow operations decreased from $519m in 2016 to $507m in 2017. However, the EBITDA increased incrementally to $710.4m in 2017 compared to $709.1m in 2016. These figures show the companies stability despite stricter regulatory challenges in places such as Austria and Germany.

Discussing the results CEO of NOVOMATIC AG, Harald Neumann, said: “Spain was a growth driver, with an increase in sales of over 50%, but other core markets, such as CEE, Italy and Great Britain also performed well in 2017.”

NOVOMATIC added 1,687 employees to its payroll worldwide during 2017 with the company now employing a total of 25,536 people. This is no surprise considering that 223 companies were consolidated onto the NOVOMATIC balance sheet during the same period.

Neumann added: “After rapid growth over the last few years, in particular through the acquisition of companies, the time has come to optimise internal processes and structures on an international level. It’s the best way to prepare for the future.”

The entire NOVOMATIC Group which includes NOVOMATIC AG, ACE Casinos Holding AG and Gryphon Invest AG achieved record total sales of $5.93bn.