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Greece – Intralot revenues up 13.3 per cent in Q2

By - 6 September 2016

Greek gaming company Intralot has announced group revenues up 13.3 per cent in the second quarter of 2016 bringing first half revenues to a growth of 2.9 per cent.

The group reported ssignificant EBITDA growth of 17.1 per cent in the second quarter, up 33.4 per cent on last the corresponding quarter in 2016.

The second quarter saw the merger of Intralot’s Italian activities with Gamenet completed.

In Peru it reached an agreement with Nexus Group to sell 80 per cent of Intralot de Peru. It also completed the acquisition of a strategic stake in leading gaming company in Bulgaria, Eurobet.
In August, it entered into discussions with Tatts for a potential sale of Intralot’s Australian and New Zealand businesses.

Intralot Group CEO Antonios Kerastaris said: “Intralot’s second quarter results reflect the impact of successful efforts in portfolio re-organization through a dynamic roadmap of new products and services and the geographical rebalancing of our presence, assisted by completed organizational changes and cost containment. We are particularly encouraged by high growth rates in mature markets such as the US as a clear sign of competitiveness gains and we are committed to further business development in North America and other promising regional markets such as Africa and East Asia.”

Reported consolidated revenues increased by 13.3 per cent to €331.9m in the quarter compared to the same period a year ago, 2.9 per cent higher year-on-year. The main growth areas in the second quarter were the US, Turkey and Bulgaria partially counterbalanced by decreased sales of 43.7m in Australasia due to lower sales in Azerbaijan where the local currency suffered severe devaluations last February and December and -23.3m in South America due to softer sales in Jamaica, Argentina and Peru.

During the first half of the year Intralot systems handled €12.3 bn. of wagers worldwide (from continuing operations), increased by 0.8 per cent year-on-year. Africa increased by 21.1 per cent North America increased by 15.4 per cent, East Europe increased by 3.1 per cent, South America decreased by 13.6 per cent, Asia decreased by 7.6 per cent whilst West Europe decreased by 1.3 per cent.

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