Published
CasinoFinancialSports Betting

Novomatic reports loss for fiscal year despite 10% revenue growth

Novomatic has reported a 10% year-on-year rise in revenue for its 2018 fiscal year, to €2.6bn ($2.9bn).

novmaticrevenue

The global supplier reported positive growth in all its core markets, emphasising particular success in Italy and Spain.

However, EBITDA fell 1% to €555.6m, while Novomatic reported a loss of €154.9m overall, having made a profit of €61.4m for the 2017 fiscal year.

The company attributes the loss to "one-off accounting effects as a result of write-downs exceeding operating profit and leading to negative earnings."

In a foreword by the executive board, Novomatic said: "The focus is currently on consolidating the rapid growth of the past few years, which was driven by the purchase of various companies.

"It is very gratifying to note that the company’s importance and reliability is frequently the subject of external recognition. For example, for the second consecutive time, Novomatic received the prestigious Global Gaming Award in the category of Casino Supplier of the Year."

The firm has also stated its intention to become more involved with sports betting and gaming in the US.

Premium+ Connections
Premium

Imagine Live

 
 
Premium

Digitain

 
Premium

Lynon

 
Premium

PIN-UP Partners

 
Premium

1xBet Partners

 
Premium

RISK

 
Premium

GammaStack

 
Premium

Sport Generate

 
Premium

Galaxsys

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Zeal Network SE

Stefan Tweraser

VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...