Snaitech’s revenues decline in the first nine months of 2017

Business News

Snaitech ended the first nine months of 2017 with revenues of € 639.29 million, a decrease of 3.4% compared to € 662.09 million in the same period last year, following a higher level of payout on sport bets.

Gross operating profit decreased by 12%, passing 97.63 million to 85.93 million euros.

We also confirm the profit for the third quarter and therefore we are likely to see a positive result at the end of 2017. It should be stressed the result and the maintenance of the performance that leads to profits, but it is also important to the online compartment that is growing double-digit quarter-on-quarter.

Agimeg Fabio Schiavolin,  Snaitech Ad, said, commenting on the Group’s financial results for the first nine months of the year, closed net of 4.8 million euros and raised to 7.7 billion. “We continue to climb positions in terms of market share,” Schiavolin continued, “and we are seeing the benefits of completing synergy integration. We are also responding well to the sports collection, especially in October, and on the sidelines, confirming our leadership position in the markets where we operate. ” But what will be the failure of Italy to qualify for Russia next year’s World Cup? “I think that the lack of participation of Italy will cost us about 20-25% of the World Cup. On the other hand, wanting to find a positive outlook will put us at less risk of gambling on Italy.