PRESS RELEASE THE BOARD OF DIRECTORS APPOVES THE RESULTS AS OF 31 DECEMBER 2017

PRESS RELEASE THE BOARD OF DIRECTORS APPOVES THE RESULTS AS OF 31 DECEMBER 2017 EBITDA EURO 82.1 MILLION, GROWING +17% VS 2016 (+9% VS PRO FORMA) AND NET FINANCIAL DEBT/EBITDA IMPROVING TO 1.9x VS 2.3x 2016 Total Bet reaches Euro 7.1 billion growing 10.7% (+0.4% vs pro forma) with positive contribution from all business segments Consolidated Revenues at Euro 619.3 million, growing 15.2% (+2.1% vs pro forma) EBITDA at Euro 82.1 million, vs 2017 EBITDA Guidance of Euro 76-78.5 million; +17.0% compared to Euro 70.2 million in 2016 (+9.0% vs pro forma) Net profit adjusted at Euro 12.7 million, growing strongly vs 3.3 million of 2016 (Euro 1.8 million pro forma) Net Financial Position at Euro 153.3 million (Euro 158.8 million in 2016). Leverage ratio at 1.9x vs 2.3x of 2016 Overachieved 2017 Synergies (98% of originally planned 2018 synergies of Euro 8.4 million achieved a year ahead) due to the successful integration of Intralot Group Proposed dividend distribution of Euro 18 million (Euro 0.60 per share) 2018 EBITDA Guidance increasing to Euro 83-88 million Approved procedure for related party transactions Approved directors management report on year 2017, including report on corporate governance and ownership structure and consolidated non-financial statement Approved 2018 remuneration policy and 2017 report on remuneration Approved to call shareholders meeting Rome, 14 March 2018 The Board of Directors of Gamenet Group S.p.A. (MTA; Bloomberg ticker: GAME: IM), a company listed on the STAR segment of the Mercato Telematico Azionario organised and managed by Borsa Italiana S.p.A., met today, approved the Preliminary Financial Statements and the Consolidated Financial Statements as of 31 December 2017. The draft financial statements approved by the Board will be submitted to the next Shareholders' Meeting of the Company to be held, in single call, on April 27, 2018. The main economic and financial data of the Consolidated Financial Statements 1 are shown below. 1 The pro forma financial data (PF) contained in the press release were prepared to simulate the main financial and economic effects on the Company of (i) the Intralot acquisition, and (ii) the issue of the 2016 Bond Loan and consequent use of proceeds for the early repayment of the senior guaranteed bond loan (nominal amount of Euro 200 million and originally due to expire in 2018) as if they had occurred on 1 January 2016. 1

Main financial and economic indicators ( million) As of and for the year ended 31 December, Change vs 2016 Change vs 2016PF 2017 2016 2016PF (Euro) % (Euro) % Revenues 619.3 537.5 606.5 81.8 15.2% 12.8 2.1% EBITDA 82.1 70.2 75.3 11.9 17.0% 6.8 9.0% EBIT 19.8 31.5 29.8 (11.7) -37.1% (10.0) -33.6% Profit before tax (*) 3.2 5.9 12.8 (2.7) -45.8% (9.6) -75.0% Net profit (loss) for the period (*) 1.2 (3.0) 1.5 4.2 >100% (0.3) -22.3% Net profit (loss) for the period Adjusted (**) 12.7 3.3 1.8 9.4 >100% 10.9 >100% Net Financial Position (153.3) (158.8) (158.8) 5.5-3.5% 5.5-3.5% (*) The 2016PF Profit before tax net of pro forma bond costs would have been Euro 3.6 million. The net profit would have been, instead, Euro -5.2 million. (**) The calculation and details of Net Profit adjusted can be found in the financial statements section of this document. EBITDA is defined as net profit (or loss) for the year adjusted for: (i) income tax expense, (ii) finance expenses, (iii) finance income, (iv) impairment of financial assets, (v) amortization, depreciation and impairment of tangible and intangible assets; (vi) reclassification to profit or loss of multiannual prepayments; (vii) acquisition related transaction costs; (viii) corporate restructuring costs and early retirement incentives; (ix) income and expenses that, by their nature, are not reasonably expected to recur in future periods. EBITDA and EBIT are alternative performance measures. As such, they are not recognised IFRS measures and may, therefore, not take into account IFRS requirements in terms of recognition, measurement and presentation. We believe that EBITDA and EBIT, both commonly used by gaming industry analysts and investors, help explain changes in operating performance and provide useful information regarding the Company s debt management capacity. 2017 was a particularly important year for Gamenet s Group: we successfully completed the listing process on the STAR segment of the Italian Stock Exchange, starting a new and significant stage of the company. We have finalized the integration process of Intralot, which demonstrates the success of the strategy aimed at diversifying our presence in all sectors of the multi-concession gaming, as well as the ability to extract important synergies. We are very satisfied with the results achieved and in particular with the growth in profitability and the improvement in net financial debt ", commented Guglielmo Angelozzi, CEO of Gamenet Group. In addition to Intralot s integration, these results were achieved thanks to the contribution of all the business, to the acceleration of our distribution insourcing strategy, to the development of the retail network, to the excellent performance of sports betting and of the online business. Overall, we are confident that the 2017 results provide a solid base for 2018 and for the achievement of our medium-long term goals. Key developments and events of Gamenet s Group business during the full year 2017: Grew Bet to Euro 7.1 billion, with a particularly positive contribution from sports betting, online gaming, VLT and Retail & Street Operations; Completed first phase of AWP reduction with no impact on bet; Introduced the 3 rd VLT platform; Acceleration of the distribution insourcing strategy from 4,825 directly owned AWP in 2016 to 9,326 AWP in 2017 and of the downstream integration of the Retail segment (68 gaming halls at the end of 2017); First optimization of the betting network with increase of 5% of operating rights; Enlarged the number of events offered through the sports schedule and Live events, launched the new Video Information of the betting shops and introduced more than 2 thousand sports betting self-booking terminals; Launched new and more effective communication campaigns for the acquisition of online customers and renewed the online casino games offer. 2

Consolidated Results as of December 31, 2017 The Group's total Revenues show an increase of 15.2%, going from Euro 537.5 million in 2016 to Euro 619.3 million in the same period of 2017 (+2.1% on a pro forma basis, from Euro 606.5 million). The increase is mainly attributable to the growth of the Betting & Online segment (> 100%), which has become a particularly significant contributor following the acquisition of the Intralot Group's Italian operations, as well as to the AWP segment (+ 15.1%) and the development of the Retail and Street Operations segment (+ 7.8%). The following table shows the breakdown of revenues by operating segment for the years ended December 31, 2017 and December 31, 2016. As of and for the year ended 31 December, Change ( thousand) 2017 % of revenues 2016 % dei ricavi (Euro) % AWP 307,613 49.7% 267,287 49.7% 40,326 15.1% VLT 207,276 33.5% 213,288 39.7% (6,012) -2.8% Betting and Online 82,747 13.4% 37,660 7.0% 45,087 >100% Retail and Street Operations 19,943 3.2% 18,507 3.4% 1,436 7.8% Other 1,730 0.3% 753 0.1% 977 >100% Totale 619,309 100.0% 537,495 100.0% 81,814 15.2% Group EBITDA increased to Euro 82.1 million in 2017, compared to Euro 70.2 million in 2016, with growth of 17.0% (+9.0% on a pro forma basis, from Euro 75.3 million). The increase is mainly attributable to the consolidation for all twelve months of Intralot, as well as to the positive results recorded by the sports betting segment, gaming machines and by the synergies generated by the aforementioned integration. In addition, the strong acceleration of the distribution insourcing strategy in 2017 also contributed to the increase in EBITDA. The Group's EBIT in 2017 amounted to Euro 19.8 million compared to Euro 31.5 million of the previous year (euro 29.8 million on a pro forma basis). The decrease is mainly due to the higher non-recurring costs incurred during the year which mainly refer to the IPO transaction (of Euro 6.4 million), the special provision to the allowance for doubtful receivables (of Euro 3.7 million), the non-recurring employee benefits (of Euro 2.7 million, of which Euro 1.9 million refer to the IPO transaction) and the amount requested by ADM for VLT tickets not collected before 2013 (of Euro 1.0 million). Financial expenses for the year 2017 amounted to Euro 16.8 million, a net improvement compared to Euro 25.7 million of the same period last year. The change is due to the higher costs incurred by the Group in 2016 compared to 2017, which mainly refer to the impact of the accelerating calculation of the amortized cost on the residual charges relating to the bond issued in 2013 in view of the early repayment transaction of the bond (of Euro 4.3 million) and the payment of Euro 3.6 million related to the early repayment above par (101.8125%) of the bond issue issued in 2013 (so-called redemption costs). The current bond matures in 2021 and has an interest cost significantly lower than the bond repaid. Profit before taxes amounted to Euro 3.2 million in 2017 as compared to Euro 5.9 million in the previous year. Net profit for the year 2017 amounted to Euro 1.2 million, a significant improvement compared to the loss of Euro 3.0 million in the previous year. The Net Profit adjusted for the year 2017 amounted to Euro 12.7 million, a significant improvement compared to Euro 3.3 million in 2016 (Euro 1.8 million on a pro forma base). The Net Income adjustment excludes costs mostly related to the IPO, extraordinary accruals to doubtful receivables, non-recurring employee benefits, and related tax effects. 3

The Net financial position at December 31, 2017 was Euro 153.3 million, compared to Euro 158.8 million at December 31, 2016. The consolidated net leverage ratio (Net financial position/ebitda) was 1.9x compared to 2.3x last year. Operating segments: KPI, Revenues and Contribution Margin AWP As of and for the year ended 31 December, 2017 2016 ( in millions, except non-financial information and percentages) Revenues 307.6 267,3 Contribution Margin 24.3 18.8 Number of AWPs in operation as of the period end 39,494 39,957 Average number of AWPs in operation for the period (1) 41,321 34,528 AWP Bet (2) 2,677 2,460 Average AWP PREU (as percentage of bet) 18,5% 17,5% (1) 2016 figures relating to the Intralot companies included in the GMT Group consolidation refer solely to the period July - December. (2) The figure does not include the bets generated by gaming halls connected to other concessionaires, amounting to Euro 176.3 million, which are included in the Retail & Street Operations segment. As of 31 December 2017, the AWP operating segment of Gamenet Group provided network connection services to 39,494 AWP, and generated Euro 307.6 million in total revenues for the year, representing 49.7% of total Group revenues in the same period. A significant factor of year-over-year growth, was the increase in bet which increased from Euro 2,460 million to Euro 2,677 million (+8.8%), resulting in revenue growth of Euro 24.9 million. Revenue growth was partially offset by the increase from 17.5% to 19.0% of the PREU tax rate in April 2017 (Euro 25.2 million), while it benefited from the absence of the negative effects of the temporal misalignment in 2016 between the increase in the PREU (effective January 1, 2016) and the reduction (from 74% to 70%) in payout, which took several months to implement across all the AWP machines held (Euro 40.6 million). Distribution costs increased from euro 237.9 million for 2016 to Euro 271.8 million for the twelve months ended December 31, 2017, in line with the increase in revenues. The increase was due, in part, to the absence in 2017 of the misalignment between the effective date of the increase in the Preu (01/01/2016) and the date that payout was reduced to 70%, which in 2016 had resulted in a temporary reduction in the share of net cash box available to the supply chain (i.e. transferred to the supply chain in the form of lower distribution costs). This effect was partially offset by the positive contribution in 2017 generated by acceleration of the distribution insourcing strategy. The Contribution Margin at 31 December 2017 amounted to Euro 24.3 million, corresponding to 3.9% of consolidated revenues and 16.9% of the Group's total Contribution Margin. The increase with respect to the previous year, amounting to Euro 5.5 million, or 29.3%, is mainly attributable to the operations carried out in 2017 (attributable to the distribution insourcing 2 strategy, as well as to the full year impact related to the acquisition of the Intralot group's Italian activities in the AWP segment). The Contribution Margin grows also on a pro forma basis showing an increase of 18.7%. 2 Note that the total number of machines owned by the group rose from 4.825 at 31 December 2016 to 9.326 at 31 December 2017. 4

VLT Revenues 207.3 213,3 Contribution Margin 60.7 63,7 Number of VLT licenses 8,570 8,570 Average number of VLTs in operation for the period (1) 8,271 7,739 Number of VLTs in operation as of the period end 8,316 8,183 VLT in operation as percentage of VLT rights 97% 95% VLT Bet (2) 3.210 3.156 Average VLT PREU (as percentage of bet) 5,8% 5,5% (1) 2016 figures relating to the Intralot companies included in the GMT Group consolidation refer solely to the period July - December; It is also noted that 382 new licenses for the installation of VLT devices were acquired only in the second half of 2016 (August 2016). (2) The figure does not include the bet generated by gaming halls connected to other concessionaires amounting to Euro 297.6 million, which are included in the Retail & Street Operations segment. As of December 31, 2017, the Group's VLT operating segment managed 8,570 licenses (of which 8,316 were operating) and generated revenues of Euro 207.3 million, representing 33.5% of Gamenet Group's total revenues in the same period. Revenues decreased by Euro 6.0 million, or 2.8%, with respect to the previous year total of Euro 213.3 million. The decrease, despite the positive impact of the increase in bet, going from Euro 3.156 million in 2016 to Euro 3.210 million in 2017, equal to 1.7% or Euro 3.5 million, due to the increase in the average number of operating machines (+6.9%) and the slight reduction in payout (of Euro 1.8 million), is mainly due to the increase in the PREU rate from 5.5% to 6.0% (which impacts for Euro 10.8 million). The Contribution Margin of the VLT segment at December 31, 2017 amounted to Euro 60.7 million, corresponding to 9.8% of consolidated revenues and 42.1% of the Group's total Contribution Margin. The decrease compared to the previous year is mainly due to the above-mentioned effects, partially offset by the reduction in distribution costs of Euro 2.5 million. Betting and Online As of and for the year ended 31 December, 2017 2016 ( in millions, except non-financial information and percentages) As of and for the year ended 31 December, 2017 2016 ( in millions, except non-financial information and percentages) Revenues 82.7 37.7 Contribution Margin 32.3 12.1 Number of licenses/concessions (1) 750 750 Number of active points of sale (shops and corner) 693 660 Average number of points of sale in operations (shops and corner) (2) 679 394 Total retail bet 485,0 256,1 Average bet per point of sale for the period 0.71 0.65 Total online bet 253,6 98,5 (1) 750 rights do not include the 58 licenses related to horse racing (2) 2016 data related to the companies relating to Intralot included in the consolidation refer to the period July - December The Betting & Online operating segment benefited from the Intralot acquisition, which has allowed, in addition to a significant increase in the number of licenses in the operating sector and points of sale, also the use of a proprietary retail betting platform among the most performing in the market. As of 31 December 2017, the bet relating to Group s Betting and Online operating segment was Euro 738.6 million. The operating segment managed 444 betting shop licenses and 249 betting corner licenses 5

generating Euro 82.7 million in total revenues, representing 13.4% of total Group revenues. In addition to the impact deriving from the full year effect of the acquisition of Intralot Group's Italian operations, the segment also benefited from the extremely positive retail sports betting payout trend in the last quarter. As a consequence of the above, the Contribution Margin increased by more than 100% compared to the previous year, and is equal to Euro 32.3 million, corresponding to 5.2% of consolidated revenues and 22.4% of the Group's total Contribution Margin. The Contribution Margin grows also on a pro forma basis showing a strong increase of 35.8% if compared to the prior year. Retail and Street Operations As of and for the year ended 31 December, 2017 2016 ( in millions, except non-financial information and percentages) Revenues included "Intragroup revenues and other revenues" 35.6 28.6 Revenues 19.9 18.5 Contribution Margin 26.3 19.2 Number of gaming halls Eop 68 67 Bet VLT 616,2 541,7 Average number of VLT 1,370 1,138 Average bet VLT per machine (in Euro thousand) 449,7 475,6 Bet AWP 324,6 217.1 Average number of AWP 4,451 3,390 Average bet AWP per machine (in Euro thousand) 72.9 64.0 (1) Calculated on revenues net of the item "Revenues and other revenues and intersegment income". As of December 31, 2017, the Group's Retail operations included 68 directly managed gaming halls, 44 of which operate under the Gamenet Entertainment brand, 18 under the Enjoy the Game brand, 4 operating under the Billions brand. The 2017 bet of the Retail and Street Operations segment totalled Euro 473.9 million, recording an increase of 7.3% compared to 2016 (Euro 441.8 million). Following the reclassification of the bet on proprietary gaming halls connected to Gamenet Concessionaire, the 2017 bet of this segment amounted to approximately Euro 940.9 million (+24.0% versus Euro 758.8 million in 2016). Revenues were Euro 19.9 million for the year ended December 31, 2017, with an increase of Euro 1.4 million (+7.6%) compared to Euro 18.5 million for the previous year. The increase is mainly due to the full year of the transactions finalized during 2016, the ones in 2017, as well as to organic growth and overall improvement in the performance of the gaming halls. The Contribution Margin as of 31 December 2017 amounted Euro 26.3 million, corresponding to 4.2% of consolidated revenues and 18.2% of the Group's total Contribution Margin. The increase compared to the previous year is mainly attributable to the same drivers described for revenues. The Contribution Margin grows also on a pro forma basis, showing a strong increase of 28.8% if compared to the prior year. Main consolidated results for the quarter ended December 31, 2017 Main financial and economic indicators of the fourth quarter 2017 are shown below. 6

Main financial and For the quarter ended 31 December, Change vs 2016 economic indicators ( million) 2017 2016 (Euro) % Revenues 168.6 166.6 2.0 1.2% EBITDA 24.7 19.6 5.1 26.0% EBIT 6.0 6.1 (0.1) -2.1% Profit before tax (*) 1.6 1.6 (0.1) -4.8% Net profit (loss) for the period 1.0 (3.8) 4.8 >100% The Group's fourth quarter 2017 total Revenues increased 1.2%, from Euro 166.6 million in 2016 to Euro 168.7 million in 2017. The increase is mainly attributable to the growth of the Betting and Online segment and mainly due to the evolution of the payout already commented above. EBITDA amounted to Euro 24.7 million, improving if compared to Euro 19.6 million in the fourth quarter of 2016, due also to the positive evolution of the payout commented above. EBIT amounted to Euro 6.0 million (Euro 6.1 million in the fourth quarter of 2016); it reflected the effects of extraordinary expenses (such as the costs incurred for the IPO transaction and the benefits to employees of an extraordinary nature) of Euro 5.7 million. The Net profit is positive and equal to Euro 1.0 million, compared to a loss of Euro 3.8 million recorded in the fourth quarter of 2016. Proposed dividend The Board of Directors intends to submit a proposal for distributing a dividend of Euro 18 million (Euro 0.60 per share) at the Annual Shareholders Meeting convened for April 27, 2018. The dividend is payable to shareholders on May 9, 2018, the ex-dividend date being May 7, 2018 and the record date May 8, 2018. Outlook Gamenet Group expects 2018 EBITDA in the range of Euro 83-88 million, CAPEX and net financial position are expected substantially in line with 2017 results. Conference Call The results as of 31 December 2017 will be presented to the financial community during a conference call to be held today at 4.00 pm, which will subsequently be available, as a recording, on the Group's website: www.gamenetgroup.it. Details to connect to the call are available on the company's website in the Investor Relations / Reports and Results / Call Instructions section. You can take part to the conference call by calling one of the following numbers: ITALY: +39 02 805 88 11, UK: +44 1 212 81 8003, USA: +1 718 705 8794. Before the conference call begins, a slides presentation will made available on the website www.gamenetgroup.it, in the section Investor Relations / Reports and Results / Presentations. The documentation used during the presentation will be available today on the Gamenet Group website at www.gamenetgroup.it, in the Investor Relations section and on the storage mechanism www.1info.it/portale1info. 7

This document may contain forward-looking statements relating to future events and operating, economic and financial results of Gamenet Group. These forecasts have by their nature a component of risk and uncertainty, as they depend on the occurrence of events and future developments the actual results may differ significantly from those announced, in relation to a variety of factors. The Manager in charge ( dirigente preposto ) of preparing the corporate accounting documents, Mario Bruno, declares, pursuant to Article 154-bis, paragraph 2 of the Consolidated Finance Act, that the accounting information contained in this press release is in keeping with the underlying accounting documents, records and accounting entries. Corporate Governance The Board of Directors approved the final version of the Company s procedure for related party transactions, which has been published on the Company s web-site at the following address www.gamenetgroup.it *.*.*.*.* The Board of Directors approved the directors management report on financial year 2017, including the report on corporate governance and ownership structure drafted pursuant to art. 123-bis of the TUF and the consolidated non-financial statement, to be published within the deadlines and pursuant to the modalities provided by law. *.*.*.*.* The Board of Directors also approved the remuneration policy of the Company for financial year 2018 and the remuneration report for financial year 2017 drafted pursuant to art. 123-ter of the TUF. The first section of the report shall be analyzed by the next Shareholders Meeting pursuant to art. 123-ter, para. 6, of the TUF. The remuneration report will be published within the deadlines and pursuant to the modalities provided for by law. *.*.*.*.* Finally, the Board of Directors resolved to call the Company s Shareholders Meeting for the 27 th of April 2018. The notice of call, information reports drafted pursuant to art. 125-ter of the TUF and art. 84-ter of the Issuers Regulation, as well as the additional information relating to the Shareholders Meeting, will be published within the deadlines and pursuant to the modalities provided for by law. *** The Gamenet Group, listed on the STAR segment of the Italian Stock Exchange, is one of the leading operators in the gaming industry in terms of revenues, which equaled to euro 619.3 million for the financial year ended 31 December 2017 as a result of its wide and diversified offer of gaming products operated under a multi-license regime in four different business sectors: (i) amusement with prize machines (AWPs); video lottery terminals (VLTs); betting and online gambling (Betting & Online); and (iv) management of gaming rooms and owned AWPs (Retail & Street Operations). As of 31 December 2017, the Group s portfolio of granted concessions comprises 41,803 AWPs (of which 9,326 under direct management) and 8,570 VLT licenses, along with a network of 750 betting licenses and 68 proprietary gaming rooms distributed across Italy. 8

*** For further information: Josef Mastragostino Investor Relations +39 06.89865700 email j.mastragostino@gamenetgroup.it Gennaro Schettino Press Office +39 06.89865834 email g.schettino@gamenetgroup.it 9

The consolidated and separate income statement, the consolidated and separate statement of financial position, the consolidated and separate statement of cash flow, the consolidated statement of changes in equity, the consolidated net financial position, the consolidated net profit adjusted and the consolidated evolution by operating segment are shown below 3. Gamenet Group S.p.A. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the quarter ended 31 December, (in thousands of Euro) 2017 2016 Revenues 168,648 166,640 Other income 1,263 983 Total revenues and income 169,911 167,623 Cost of services (137,157) (138,931) Personnel expenses (11,412) (7,727) Other operating costs (2,168) (1,601) Depreciation, amortization and impairments (11,065) (11,521) Accruals and impairments (2,097) (1,668) Finance income 44 50 Finance expenses (4,505) (4,582) Share of profit/(loss) of equity accounted investments - 12 Impairment of financial assets - (39) Profit before tax 1,551 1,616 Income tax expense (516) (5,413) Net profit (loss) for the period 1,035 (3,797) Net profit (loss) for the period attributable to minority interests (671) 175 Net profit (loss) for the period attributable to the owners of the parent 1,706 (3,972) 3 It should be noted that the comparative data at December 31, 2016 show some minor reclassifications differently from what was previously published. 10

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the twelve months ended December 31, (in thousands of Euro) 2017 2016 Revenues 619,309 537,495 Other income 4,327 3,510 Total revenues and income 623,636 541,005 Cost of services (514,009) (445,200) Personnel expenses (34,048) (24,742) Other operating costs (8,370) (3,944) Depreciation, amortization and impairments (40,327) (32,426) Accruals and impairments (7,071) (3,151) Finance income 206 186 Finance expenses (16,790) (25,743) Share of profit/(loss) of equity accounted investments (15) - Impairment of financial assets - (57) Profit before tax 3,212 5,928 Income tax expense (2,060) (8,947) Net profit (loss) for the period 1,152 (3,019) Net profit (loss) for the period attributable to minority interests (706) (888) Net profit (loss) for the period attributable to the owners of the parent 1,858 (2,131) For the twelve months ended December 31, (in thousands of Euro) 2017 2016 Net profit (loss) for the period 1,152 (3,019) Actuarial gains and losses on employee benefit liabilities (306) (2) Fiscal effect 73 - Other items that will not be classified to profit or loss (233) (2) Total comprehensive income 919 (3,021) Total comprehensive income attributable to minority interests (706) (888) Total comprehensive income attributable to the owners of the parent 1,625 (2,133) 11

CONSOLDIATED STATEMENT OF FINANCIAL POSITION As of December 31, (in thousands of Euro) 2017 2016 Intangible assets 97,484 112,865 Goodwill 71,493 59,317 Property, plant and equipment 53,088 45,901 Investment property 608 634 Non-current financial assets 4,634 4,341 Equity accounted investments - 555 Non-current trade receivables 14,232 14,176 Deferred tax assets 10,673 8,853 Other non-current assets 8,856 7,800 Total non-current assets 261,067 254,442 Inventories 64 42 Current trade receivables 61,203 58,345 Current financial assets 306 515 Tax receivables 13,518 13,198 Other current assets 43,220 45,520 Cash and cash equivalents 52,379 49,819 Total current assets 170,690 167,439 Total assets 431,757 421,881 Share capital 30,000 30,000 Other reserves 62,387 62,006 Retained earnings (26,552) (28,177) Total shareholders' equity attributable to the owners of the parent 65,835 63,829 Equity attributable to minority interests 2,906 2,056 Total shareholders' equity 68,740 65,885 Employee benefit liabilities 7,293 6,004 Non-current financial liabilities 202,453 201,855 Non-current trade payables 616 - Provisions for risks and charges 2,581 4,548 Other non-current liabilities 19,811 19,039 Total non-current liabilities 232,754 231,446 Current financial liabilities 13,277 20,154 Current trade payables 31,478 28,859 Other current liabilities 85,508 75,537 Total current liabilities 130,263 124,550 Total equity and liabilities 431,757 421,881 12

CONSOLIDATED STATEMENT OF CASH FLOWS For the twelve months ended December 31, (in thousands of Euro) 2017 2016 Profit before tax 3,212 5,930 Reconciliation of profit before tax with cash flow from operating activities: Depreciation, Amortization and Impairment of intangible assets and property, plant and equipment 40,327 32,536 Accruals and write-downs for impairment losses 7,071 3,151 Other accruals 1,456 1,336 Share of profit/loss of equity accounted investments 15 - Impairment on financial assets - 57 Net financial expenses 16,584 25,557 "Prepaymet" amortization 5,688 5,265 Other adjustments for non-cash items (1,974) (1,025) Cash flow from operating activities before changes in net working capital 72,379 72,807 Changees in net working capital Decrease/(increase) in inventories (22) - Decrease/(increase) in trade receivables (10,864) (15,441) Decrease/(increase) in trade payables 5,792 (9,810) Other changes in net working capital 6,333 (1,054) Cash flow from changes in net working capital 1,239 (26,305) Income taxes paid (2,919) (3,755) Accruals to employee benefits and provisions for risks and charges (256) (645) Cash flow from operating activities 70,442 42,102 Cash flow from investing activities Investments: (30,316) (22,650) - intangible assets (9,416) (7,654) - property, plant and equipment (20,899) (14,996) Disposals of assets - 292 Deferred purchase consideration for acquisition of subsidiaries/business units (7,773) (3,858) Acquisition net of cash and cash equivalents (9,504) 19,264 Cash flow from investing activities (47,592) (6,952) Cash flow from financing activities Change in other financial liabilities 104 (70) Shareholder loans - 3,500 Increase in revolving credit facility 10,000 5,028 Decrease in revolving credit facility (15,088) Repayment of bond - (203,625) Proceeds from bond issuance - 200,000 Net financial expenses on raising of loans - (4,788) Changes in current and non current financial assets 458 344 Net financial expenses (16,161) (18,128) Dividends paid - (16,902) Incorporation of Gamenet Group - 100 Capital increase paid in cash - (900) Other movements 397 Cash flow from financing activities (20,290) (35,441) Net Cash flow 2,560 (291) Cash and cash equivalents at the beginning of the period 49,819 50,110 Cash and cash equivalents at the end of the period 52,379 49,819 13

CONSOLIDATED STATEMENT OF CHANGE IN EQUITY (in thousands of Euro) Share capital Legal Reserve Share Premium Reserve Other Reserves Total Other Reserves Retained Earnings/ (Losses) Total Shareholder s' Equity Attributable to Owners of the Parent Equity Attributable to Minority Interests Total Shareholde rs' Equity As of December 31, 2016 30,000-283,520 (221,514) 62,006 (28,177) 63,829 2,056 65,885 Net profit/(loss) for the period - - - - - 1,858 1,858 (706) 1,152 Actuarial gains and losses on employee benefit liabilities - - - - - (233) (233) - (233) Total comprehensive income - - - - - 1,625 1,625 (706) 919 Shareholders contribution - - - 636 636-636 930 1,566 Transaction between Shareholders - - - (344) (344) - (344) (169) (513) Other movements - 6,000 (6,000) 89 89-89 32 121 Acquistions - - - - - - - 763 763 As of December 31, 2017 30,000 6,000 277,520 (221,133) 62,387 (26,552) 65,835 2,906 68,741 14

CONSOLIDATED FINANCIAL POSITION NET FINANCIAL DEBT As of December 31, (in thousand of Euro) 2017 2016 Cash at banks 52,379 49,819 Financial assets 10,100 13,389 62,479 63,208 Senior Secured Notes Due to bondholders - capital (195,935) (195,531) Due to bondholders - interest (4,600) (5,000) (200,535) (200,531) Bank overdrafts (1,182) (6,859) Other financial liabilities (14,014) (14,615) Total debt (215,731) (222,005) Net financial debt (*) (153,252) (158,797) (*) Net financial debt is not identified as an accounting measure under IFRS. The determination criterion applied by the Group may not be homogeneous with that adopted by other groups and, therefore, the balance obtained by the Group may not be comparable with that determined by the latter. 15

CONSOLIDATED EBITDA For the quarter ended 31 December, (in thousands of Euro) 2017 2016 Net profit (loss) for the period 1,034 (3,797) Income tax expense 516 5,413 Finance income (44) (50) Finance expenses 4,505 4,582 Share of (profit)/loss of equity accounted investments - (12) Impairment of financial assets - 39 Depreciation, amortization and impairment 11,065 11,521 Reclassification to profit or loss of multiannual prepayments 1,739 1,874 Accessory expenses for the purchase of participations 150 - Severance costs 22 - Non recurring income/expenses 5,685 38 EBITDA 24,672 19,608 For the twelve months ended December 31, (in thousands of Euro) 2017 2016 Net profit (loss) for the period 1,152 (3,019) Income tax expense 2,060 8,947 Finance income (206) (186) Finance expenses 16,790 25,743 Share of (profit)/loss of equity accounted investments 15 - Impairment of financial assets - 57 Depreciation, amortization and impairment 40,327 32,426 IPO costs 6,406 - Pre 2013 non-cashed VLT tickets paid to ADM 986 - Extraordinary accruals to doubtfull receivable reserves 3,650 - Non-monetary costs (reclassification to profit or loss of multiannual prepayments) 5,688 5,375 Severance costs 539 - Non recurring employes benefits 2,665 - Penalties 135 150 Accessory expenses for the purchase of participations 1,874 713 EBITDA 82,080 70,206 16

CONSOLIDATED NET PROFIT ADJUSTED As of and for the year ended 31 December, (in thousand of Euro) 2017 2016 2016PF Net profit (loss) for the period (*) 1,152 (3,019) 1,482 IPO costs 6,406 - - Pre 2013 non-cashed VLT tickets paid to ADM 986 - - Extraordinary accruals to doubtfull receivable reserves 3,650 - - Severance costs 539 - - Non recurring employes benefits 2,665 - - Penalties 135 150 150 Expenses for corporate restruction and redundancy - - 300 Accessory expenses for the purchase of participations 1,874 713 - Refinancing costs of the 2013 bond - 7,880 - Tax effect (IRES + IRAP) (4,733) (2,439) (142) Net profit (loss) for the period adjusted (*) 12,673 3,285 1,790 17

OPERATING SEGMENTS (in thousands, except for percentages) AWP VLT Betting and Online Retail and Street Operations Unallocated/Elimination Total Q4 2017 Q4 2016 Q4 2017 Q4 2016 Q4 2017 Q4 2016 Q4 2017 Q4 2016 Q4 2017 Q4 2016 Q4 2017 Q4 2016 BET 724,395 695,772 825,762 854,383 202,110 179,263 130,779 127,039 - - 1,883,046 1,856,457 of wich Retail and Street operation 44,867 27,862 91,013 72,697 - - - - - - 135,880 100,559 Bet 724,395 695,772 825,762 854,383 - - - - - - 1,550,156 1,550,155 Payout (506,058) (488,295) (724,862) (750,596) - - - - - - (1,230,920) (1,238,891) GGR 218,337 207,477 100,899 103,787 - - - - - - 319,236 311,264 Tax (PREU, IU, ecc.) (137,636) (121,947) (49,546) (46,993) - - - - - - (187,181) (168,939) NGR 80,701 85,530 51,354 56,794 - - - - - - 132,055 142,325 Non-bet based revenues 163 214 489 40 - - - - - - 652 254 Revenues toward third parties 80,865 85,744 51,879 56,714 30,525 17,870 4,907 5,487 472 825 168,648 166,640 Other income toward third parties 103 169 183 235 26 1 376 389 575 189 1,263 983 Intragoup Revenues and Other income - - 3 122 (3) 32 4,147 2,791 (4,147) (2,945) - - Total Revenues and Income 80,967 85,913 52,065 57,071 30,549 17,903 9,429 8,667 (3,100) (1,931) 169,911 167,623 Third parties distribution costs (70,688) (76,103) (30,941) (32,939) (13,878) (11,208) (209) (271) 3,577 1,979 (112,138) (118,542) Tax- concession fees - other (2,208) (2,614) (2,609) (2,572) (1,159) (886) - - 34 3 (5,942) (6,069) Other distribution & platform costs - - (2,995) (3,328) (761) 57 - - 15 30 (3,741) (3,241) Other direct costs (1,404) (779) (188) (782) 13 (629) (2,518) (2,599) (266) (530) (4,363) (5,319) Contribution margin 6,667 6,417 15,332 17,450 14,764 5,237 6,703 5,797 261 (449) 43,726 34,452 Contribution Margin/bet 0.9% 0.9% 1.9% 2.0% 7.3% 2.9% 5.1% 4.6% n.a. n.a. 2.3% 1.9% Contribution Margin/Total Revenues and Income 8.2% 7.5% 29.4% 30.6% 48.3% 29.3% 71.1% 66.9% -8.4% 23.2% 25.7% 20.6% Indirect costs (26,650) (16,756) Finance income (11,065) (11,521) Finance expenses 44 50 Share of profit/(loss) of equity accounted investments (4,505) (4,582) Impairment of financial assets - 12 Share of profit/(loss) of equity accounted investments - (39) Profit before tax 1,551 1,616 Income tax expense (516) (5,413) Net profit (loss) for the period 1,035 (3,797) In the following table, bet generated by company owned gaming halls connected to Gamenet Group s concessionaires is reclassified from the AWP/VLT segment into the Retail and Street Operations segment. It should be noted that distribution insourcing transactions finalised by the Group s Concessonaires get reported within the AWP segment (except for those finalized by street operators company). (in thousands of Euro) Bet Q4 2017 Q4 2016 AWP 679,528 667,910 VLT 734,749 781,686 Betting and Online 202,110 179,263 Retail and Street Operations 266,660 227,598 Total 1,883,046 1,856,457 18

OPERATING SEGMENTS (in thousands, except for percentages) AWP VLT Betting and Online Retail and Street Operations Unallocated/Elimination Total 12/17 12/16 12/17 12/16 12/17 12/16 12/17 12/16 12/17 12/16 12/17 12/16 BET 2,677,260 2,460,281 3,210,426 3,156,089 738,518 354,640 473,929 441,792 - - 7,100,133 6,412,802 of wich Retail and Street operation 148,297 80,054 318,625 236,993 - - - - - - - - Bet 2,677,260 2,460,281 3,210,426 3,156,089 - - - - - - 5,887,686 5,616,369 Payout (1,873,802) (1,762,518) (2,818,704) (2,772,824) - - - - - - (4,692,506) (4,535,342) GGR 803,458 697,763 391,721 383,264 - - - - - - 1,195,180 1,081,027 Tax (PREU, IU, ecc.) (496,192) (430,736) (187,528) (173,586) - - - - - - (683,720) (604,321) NGR 307,266 267,027 204,194 209,679 - - - - - - 511,460 476,706 Non-bet based revenues 347 260 3,046 3,609 - - - - - - 3,393 3,869 Revenues toward third parties 307,613 267,287 207,276 213,288 82,747 37,660 19,943 18,507 1,730 753 619,309 537,495 Other income toward third parties 586 790 538 260 33 56 1,071 708 2,099 1,696 4,327 3,510 Intragoup Revenues and Other income - - 7 127 22 166 15,632 10,044 (15,661) (10,337) - - Total Revenues and Income 308,198 268,077 207,821 213,675 82,803 37,882 36,645 29,259 (11,832) (7,888) 623,636 541,005 Third parties distribution costs (271,794) (237,851) (122,950) (125,468) (42,258) (20,500) (866) (986) 12,956 7,455 (424,911) (377,350) Tax- concession fees - other (8,199) (7,910) (9,785) (9,532) (4,489) (1,985) - - 61 16 (22,412) (19,411) Other distribution & platform costs - - (11,983) (11,862) (3,152) (1,450) - - 176 51 (14,959) (13,261) Other direct costs (3,940) (3,549) (2,436) (3,126) (632) (1,892) (9,516) (9,060) (819) (801) (17,343) (18,428) Contribution margin 24,265 18,767 60,667 63,687 32,272 12,055 26,264 19,213 543 (1,167) 144,010 112,555 Contribution Margin/bet 0.9% 0.8% 1.9% 2.0% 4.4% 3.4% 5.5% 4.3% n.a n.a 2.0% 1.8% Contribution Margin/Total Revenues and Income 7.9% 7.0% 29.2% 29.8% 39.0% 31.8% 71.7% 65.7% -4.6% 14.8% 23.1% 20.8% Indirect costs (83,872) (48,587) Finance income (40,327) (32,426) Finance expenses 206 186 Share of profit/(loss) of equity accounted investments (16,790) (25,743) Impairment of financial assets (15) - Share of profit/(loss) of equity accounted investments - (57) Profit before tax 3,212 5,928 Income tax expense (2,060) (8,947) Net profit (loss) for the period 1,152 (3,019) In the following table, bet generated by company owned gaming halls connected to Gamenet Group s concessionaires is reclassified from the AWP/VLT segment into the Retail and Street Operations segment. It should be noted that distribution insourcing transactions finalised by the Group s Concessonaires get reported within the AWP segment (except for those finalized by street operators company). (in thousand of Euro) Bet FY 2017 FY 2016 AWP 2,528,963 2,380,226 VLT 2,891,801 2,919,095 Betting and Online 738,518 354,640 Retail and Street Operations 940,851 758,840 Total 7,100,133 6,412,802 19

SEPARATE INCOME STATEMENT For the twelve months ended December 31, (in thousands of Euro) 2017 2016 Revenues - - Other income 585 - Total revenues and income 585 - Cost of services (7,228) (204) Personnel expenses (3,225) - Other operating costs (67) (4) Depreciation, amortization and impairments (13) (0) Accruals and impairments - - Finance income 13,075 5,409 Finance expenses (13,292) (5,375) Net finance income/expenses (217) 34 Profit before tax (10,165) (174) Income tax expense 2,248 29 Net profit (loss) for the period (7,918) (145) 20

SEPARATE STATEMENT OF FINANCIAL POSITION As of December 31, (in thousands of Euro) 2017 2016 - - Intangible assets 380 88 Goodwill - - Property, plant and equipment - - Investment property - - Non-current financial assets 511,820 511,820 Equity accounted investments - - Non-current trade receivables - - Deferred tax assets 835 19 Other non-current assets - - Total non-current assets 513,035 511,926 Inventories - - Current trade receivables - - Current financial assets 679 5,309 Tax receivables 13,776 - Other current assets 2,416 564 Cash and cash equivalents 241 55 Total current assets 17,112 5,928 Total assets 530,148 517,854 Share capital 30,000 30,000 Other reserves 283,908 283,908 Retained earnings (8,062) - Total shareholders' equity 305,845 313,763 Employee benefit liabilities 146 - Non-current financial liabilities 199,039 198,530 Passività per imposte differite 117 148 Non - current trade payables - - Other non-current liabilities - - Total non-current liabilities 199,302 198,678 Current financial liabilities 4,600 5,000 Tax payables - 6 Current trade payables 3,684 247 Other current liabilities 16,716 160 Total current liabilities 25,000 5,413 Total equity and liabilities 530,148 517,854 21

SEPARATE STATEMENT CASH FLOW For the twelve months ended December 31, (in thousands of Euro) 2017 2016 Profit before tax (10,165) (174) Reconciliation of profit before tax with cash flow from operating activities: Depreciation, Amortization and Impairment of intangible assets and property, plant and equipment 13 0 Other accruals 51 - Net financial expenses 217 (39) Other adjustments for non-cash items 13 - - - Cash flow from operating activities before changes in net working capital (9,871) (213) Changees in net working capital Decrease/(increase) in inventories 3,189 407 Decrease/(increase) in trade receivables (1,259) (564) Decrease/(increase) in trade payables 3,044 - Other changes in net working capital (84) (19) Cash flow from changes in net working capital 4,889 (156) Income taxes paid 5 - Accruals to employee benefits and provisions for risks and charges 95 - Cash flow from operating activities (4,882) (370) Cash flow from investing activities Investments: (70) (88) - intangible assets (70) (88) - - Cash flow from investing activities (70) (88) Cash flow from financing activities Change in other financial liabilities - 3,500 Proceeds from bond issuance - 195,212 Interest expense on bond (12,567) - Intercomany loan from Gamenet Spa - (198,400) Interest income on intercomany loan from Gamenet Spa 17,705 - Financial income - 100 Increase in capital by cash - 100 Cash flow from financing activities 5,138 512 Net Cash flow 186 55 Cash and cash equivalents at the beginning of the period 55 - Cash and cash equivalents at the end of the period 241 55 22