Operator News
Greece – Intralot posts 20.6 increase in Q1
By Phil - 26 May 2017
Greek gambling operator Intralot saw its revenues increase by 20.6 per cent in the first quarter of 2017, compared to 1Q16.
Revenues hit €367.9m with the main factor being increased sales in Bulgaria (in part due to Eurobet’s first time consolidation) and Poland, which saw the sector generate an extra €32.1m. An extra €16.5m was generated in North and South America, with the increase driven by Jamaican’s top line performance and the start of Intralot’s new contract in Chile which fully counterbalanced the top line deficit from our US operations as a result of last year’s record high Powerball jackpot in 1Q16. There was also an extra €14.3m stemming from all other regions primarily driven by Azerbaijan’s strong performance
EBITDA in the three month period grew by 4.3 per cent year on year.
Group CEO Antonios Kerastaris noted: “Robust revenue growth and improved profits registered in 1Q2017 are driven by our strategic decisions to focus on key markets as well as products & services portfolio diversification. All the transformational initiatives undertaken over the last two years are depicted both at profit and cash-flow levels, considerably improved from a year ago. With a significantly improved financial structure and operational performance, we are also reaping the fruits of lower debt servicing costs and enhancing our credit grade outlook by rating agencies that boost our confidence going forward.”
Lottery Games were the largest contributors to Intralot’s top line, comprising 44.6 per cent of its revenues, followed by Sports Betting contributing 40.5 per cent to group turnover. Technology contracts accounted for 9.4 per cent and VLTs represented 2.8 per cent of group turnover while racing constituted the 2.7 per cent of total revenues for the first quarter of 2017.
