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Novomatic, a recognised software developer specialised in video slots, has unveiled its latest financial report, and celebration has been going on ever since.
You might wonder why?
The Austrian company has hit a new record with $3.03bn in sales during 2017! It was mostly thanks to its Gaming Operations sector which was responsible for 63% of total revenue at $1,920 million.
The company headquartered in Gumpoldskirchen, Austria has indeed hit a new high. However, on a smaller scale, regarding its Gaming Technology segment, it, in fact marks a slight low compared to the success accomplished in the previous year. Last year the sales were $1,146m, and they dropped mildly to $1,133m. Nevertheless, the firm does not let this minor inconvenience affect the general success.
The brilliant showpiece produced by the Gaming Operations segment, which surged 19.6% from $1,604m in 2016 to $1,920m in 2017, implied that overall sales also increased 11% compared to the same period in the year before. As a result, the company gathered $74.3m in consolidated net income after tax.
Due to stricter gaming regulations introduced in Austria, particularly when the payout ratio for gaming machines at 85-95% are considered, Novomatic was seen payout roughly $1.33bn in 2017 in comparison with $1.21bn in 2016. Austria alone cost the company $110m in tax and duties compared to $102.8m in 2016.
While cash flow operations cut back from $519m in 2016 to $507m in 2017, the EBITDA grew significantly to $710.4m in 2017 compared to $709.1m in 2016. The numbers show the firm’s stability despite all odds and regulations both in Austria and Germany that might inflict progress.
Harald Neumann, CEO of Novomatic AG, has commented on the currents by saying that acquisitions and new deals with companies have helped rapid growth of the firm. Neumann has added that now it is time to “optimise internal processes and structures on an international level.”
The Novomatic Group consists of Novomatic AG, ACE Casinos Holding AG and Gryphon Invest AG, and they all attained record total sales of $5.93bn.