In what Intralot chairman Sokratis Kokkalis calls a “transition year,” with a restructuring process successfully concluded, decreases in revenue and EBITDA are offset by more contracts and a reduction in debt.
New group CEO Christos Dimitriadis reports the sale of shares in Gamenet Spa in Italy, Totolotek in Poland and Hellenic Lotteries in Greece, which he said strengthened Intralot’s liquidity.
At the same time the company has launched new products, including Lotos X at OPAP and at the Dutch National Lottery with the Eurojackpot game.
It has a gaming system project with Camelot in Illinois, US, and has launched sports betting projects in US states plus a lottery contract with the British Colombia Lottery in Canada.
The 2019 results showed revenue down €720.6m, or 8.1 per cent, but within those figures technology contracts were up 2.7 per cent at €208.3m. EBITDA stood at 87.8m, down 25.4 per cent. However net debit was €21.2m lower at €594.1m.
Over 44 per cent of revenue came from lottery games, followed by sports betting at over 42 per cent. The decrease in licensed operations was through factors in Bulgaria, inflationary currency trends in Argentina, a deficit in Turkey and fewer sales in Morocco. The positive factors were increased business in the US, the Netherlands and Chile.