Financial

Financial News

Harald Neumann, NOVOMATIC Chairman of the Board, said: “We pursued our growth strategy during the first half of the year and have undertaken a number of important expansions. With our acquisition of the British gaming operator Talarius, we have further increased our market share in the important UK gaming market, and we are now the largest operator of gaming arcades in the UK. Our intention to acquire a stake in the Australian listed gaming technology company Ainsworth would give a massive boost to our market position in Australasia, as well as in North and South America.”

Financial News

"As a Company, we are working toward meeting the strategic targets we outlined for shareholders at the beginning of 2016," said Richard Weil, Chairman and CEO of INNOVA. "We have built a strong base of recurring revenue and cash flow, LT-3 deployments are ongoing and ARPU for the year has been slightly ahead of our estimates as we have added exciting new features in a number of jurisdictions. We intend to begin to roll out our LT-3's in New Hampshire later this year and anticipate that we will successfully sign one further jurisdiction by the end of 2016. The addressable market for our LT-3 is large. We have only just begun to tap into this opportunity as we seek to grow INNOVA into a substantial player in the lottery and charitable gaming space."

Financial News

Financial News

"Our second quarter financial results continue to reflect our ongoing growth and the underlying improvements in our operating efficiencies," commented Co-Chief Executive Officer John Pollard . "Our new press continues to become more fully integrated with our operations and has resulted in improvements in efficiencies and productive capacity. Our free cash flow generating potential is fully evident during this quarter as we produced over $3 million in free cash flow during the three month period after accounting for all of our reinvestments and capital expenditures." "The instant ticket market and, in fact, the overall lottery industry, remains a very positive business," remarked Co-Chief Executive Officer Doug Pollard . "Our clients remain focused on expanding and growing their customer base, revenue and ultimately the proceeds generated to provide to their various good causes. We believe Pollard continues to be well positioned to be their partner of choice to achieve these objectives."

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