Italian gaming and lottery supplier GTECH S.p.A expects to achieve annual cost savings of €50m over the next two years through a number of initiatives that it has identified and started to implement, as the company reported a 23 per cent drop in net profit to €205.2m for the full 2013 year.

Revenue fell marginally by 0.4 per cent to €3.1bn during the year, with 10 per cent of the total generated by the company’s interactive operations. Lottery continues to dominate GTECH's earnings, generating 56 per cent of revenue, followed by gaming with 29 per cent.

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