| Abstract: | The rating on Italian lottery operator Lottomatica SpA reflects its position as one of the world's largest lottery operators, its well-established relationships with lottery authorities worldwide, the high barriers to entry for competitors, a relatively predictable cash flow base, and its leading position in the Italian lottery market. These factors are tempered by the maturity and capital intensity inherent in the worldwide lottery business, intense pricing pressures in the U.S. lottery industry, the expectation that the company's aggressive growth strategy will continue in the intermediate term, and a current financial profile that is somewhat weak for the low-investment-grade rating. In August 2006, Lottomatica completed the acquisition of the world's largest lottery operator, GTECH. The transaction combined Lottomatica's cash-generative Italian lottery
|
| Brief Excerpt: | RESEARCH Ratings Definitions Summary: Lottomatica SpA Publication date: 27-Nov-2007 Primary Credit Analyst: Ben Bubeck, CFA, New York (1) 212-438-2176; ben_bubeck@standardandpoors.com Credit Rating: ###-/Stable/A-3 Rationale The...
|
| Report Type: | Summary
|
| Ticker: | LTO@IM
|
| Issuer: | Lottomatica SpA
|
| GICS: | Casinos & Gaming (25301010)
|
| Sector: | Automotive, Consumer Products, Corporations, Global Issuers, Hotel & Gaming, Media & Entertainment, Telecommunications & Cable
|
| Country: | Italy
|
| Region: | Europe, Middle East, Africa
|
| Free Sample: |
Click Here to Download
|
| Format: | | HTML |  |
|
