UPDATE 2-Lottomatica Q1 result up, shows Camelot interest

* Q1 results beat analyst expectations

* FY EBITDA seen at 780-800 mln euros, in line with fcasts

* Interested in Camelot only at "very attractive" price

(Releads, adds comments on Camelot interest)

MILAN, April 28 (Reuter) - Italian gaming company Lottomatica SpA (LTO.MI: Quote, Profile, Research) would only be interested in UK lottery operator Camelot at the right price, the company said Tuesday as first quarter results beat expectations.

Chairman Lorenzo Pellicioli said in a conference call the company is "confident" in its 2009 forecasts for higher profits and is hiking capital expenditure to 360 million to 380 million euros, from 243 million euros, to fund expansion.

On Camelot, he said: "A significant piece of ownership is up for sale. Are we interested? It all depends on the price."

"There is no strategic reason for us to buy this asset unless there is a very significant value creation potential and (that) is only driven by a very attractive price," he said.