Turnover was more than halved in the first half of 2020, reports gaming solutions provider Intralot.
The pandemic badly impacted the results to June 30 of the Greek-based company that has a workforce of almost 4,000 and supplies to 42 jurisdictions.
At €168.2m, the revenue was 56 per cent down on the €378.1m returned in the same period of 2019. GGR was €133.5 compared with €218.3m and EBITDA was €26.7m compared with €58.7m. Gross profit was €30.6m compared with €76.3m.
The report had some positive aspects, however, with North American operations showing revenue up 15 per cent. This was driven by the higher contribution of the new contract in Illinois, plus other factors in Canada and Ohio.
CEO Christos Dimitriadis said: “During the first half of the year we have navigated through the Covid-19 pandemic as well as the effect of discontinued operations in Bulgaria and Turkey. We have revisited our strategy, accelerated its execution, reorganised the group, gave priority to our customers and to our people, addressed our financials with prudency, diversified our portfolio even further, ensured continuity in service provision and identified ways to unlock the hidden potential of our digital technology.
“As a result we have achieved significant growth in our US operation, substantial reduction of the group’s OPEX and CAPEX and maintenance of strong liquidity levels, Most importantly, we are continuously being prepared for the future and the new realities that are being established worldwide.”