Supplier News
Greece – Intralot enjoys four per cent revenue rise
By Phil - 29 August 2013
Intralot posted an increase of 4.3 per cent in consolidated revenues for the six month period ending June 30, reaching €717.2m in 1H13 compared to €687.3m in 1H12.
Intralot Group CEO, Constantinos Antonopoulos, said: “We are very pleased with Intralot’s results in the first half of the year during which the Company achieved an approximate four per cent increase of revenues and continued to post significant growth of EBITDA, which increased by 20 per cent, despite a tough comparison with 1H2012 during which the European National Team Championship took place. The continued improvement of our EBITDA margins reflects our strategy to strengthen the profitability of our existing projects and the contribution of new projects such as the VLT monitoring system in Victoria and sports betting in Azerbaijan.
In early August, the company successfully completed the process of issuing a five-year bond of €325m, which strongly improves the debt expiration profile of the Group. We decided to upsize the amount of the transaction from 300m due to the strong demand by investors, which led to an oversubscription of four times.
“Regarding recent developments related to our project portfolio, starting with Taiwan, the JV in which we are the largest shareholder was selected as the lottery IT system provider by ChinaTrust Bank, the operator of the Public Welfare Lottery in the country, for another 10 years. In addition, in Taiwan our JV was recently selected to provide Sports betting technology and related services,” Mr. Antonopoulos explained. “In South Korea, the NANUM LOTTO consortium, in which the company participates, was selected as the preferred bidder to operate the National Lottery. In Ohio, the State Lottery extended for additional two years our contracts to provide gaming system services and instant ticket cooperative services. Also, the State Lottery announced an additional 2 year extension option until 2021 to our current contracts. In Tasmania, Australia we renewed for another 5 years our license to operate games in the State, and in Poland, Intralot received a 6-year Internet betting license from the Polish Ministry of Finance. Recently, the company agreed to acquire a stake in Bilyoner that would lead it to take over the majority of the company. Finally, in Greece, we signed with OPAP S.A. contracts for the provision of a new central system and maintenance and support services to the organization and its POS network. Moreover, Hellenic Lotteries S.A., a company in which Intralot participates with OPAP S.A. and Scientific Games, signed a 12-year exclusive license for the operation of Instant and Passive Tickets. Intralot has also signed supply contracts with Hellenic Lotteries.”
