Scientific Games Corporation grouped its Barcrest, Games Media and The Global Draw divisions under its SG Gaming umbrella brand last month.
Following the merger, the Italian online casino company signed a new deal to supply online gambling titles to Gala Coral Group’s Eurobet Italia subsidiary.
The launch of Crown Jewels will be the initial step of the deal. The new operation has already gained approval from the Italian gambling regulator, AAMS (Amministrazione autonoma dei monopoli di Stato – the Autonomous Administration of State Monopolies). Several other games are announced to be launched by the end of this year.
In related news, Italian gambling operator SNAI revealed its reports for the fiscal quarter ending on 30 September, 2012. Revenues fell 12% to EUR 105.7 million. Even worse, earnings fell a staggering 73.5% to EUR 4 million, creating a net loss of EUR 18.1 million for the fiscal quarter.
SNAI’s Italian sports betting turnover fell 6.7%, horse racing wagering even fell 26% in accordance with the general decline in the segment.
Overall, SNAI turnover actually grew by 13.9% to EUR 3.98 billion. There was a huge 128% growth in the online gambling turnover to EUR 663 million, mainly resulting from the launch of new online casino and real-money poker games. Year-to-date, SNAI revenue is EUR 369.5 million with earnings down 31.7% to EUR 38.3 million.
According to industry analysts, Barcrest is at least partially responsible for the Q3 failure of SNAI. Following alleged incorrect payouts, SNAI disconnected its Barcrest video lottery terminals in April this year.
State regulator AAMS has introduced a ban on the installation of new so-called ‘totems’. Totems are gambling terminals in internet cafes, tobacco shops as well as in some public spaces that allow gamblers to play on Italian online gaming websites. Totems pay only a 4% turnover tax, compared to the 20% profit levy paid by land slot machines.