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Italian Betting Agency With Decreased Revenues in Q1

Italian Betting Agency With Decreased Revenues in Q1

One of the leading Italian online and land-based betting agencies, Sindacato Nazionale Agenzie Ippiche (SNAI) experienced a slight decrease in their revenues in Q1 this year. The revenues are based on sports betting, horse races and amusements with special prizes, which have been below what was expected.

In total SNAI had revenues of €142.4 million from January 1st to March 31st in 2014, which is a 0.8% drop in year-on-year revenues, as SNAI had €143.6 million in revenues in Q1 2013. Profits before tax, interests, amortisation and depreciation also experienced a decrease, falling 1.1% from €37.9 million in 2013 to €37.5 million in 2014.

In other areas of SNAI's operation, the earnings also experienced a decrease. Overall the profits fell by 9.4% to €20 million, which would amount to around €5.2 million. That's a 58.5% decrease compared to the numbers from the year before, but SNAI still believes that they are on the right track as their performance was boosted by new video lottery terminals and virtual events betting.

News by Daniel Allermand
Daniel Allermand - Reporter

Daniel Allermand is a freelance writer, with more than 4 years of experience in the industry as an operator, affiliate and poker player. Daniel has decided it was time to try and bring more coverage about the industry to the general public by writing articles about everything from poker to casino.


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