Intralot tech investment "starting to pay off" says CEO
Greek lottery and gaming service provider's annual revenues have risen by almost 8% compared to 2010.
Investment in new technology and innovation is “starting to pay off”, according to Greek lottery and gaming service provider Intralot’s chief executive, with annual revenues rising by almost 8% compared to 2010, the company has announced.
“Technological and other innovations are starting to pay off in our day-to-day business operations and, coupled with our world-class operational skills and know-how, are expected to help grow the business in the next few years and at the same time improve efficiencies,” Constantinos Antonopoulos, said in a statement.
Intralot, yesterday revealed as one of three supplier’s shortlisted to provide Greek monopoly OPAP with online gaming and betting software and services, announced that its consolidated revenues for 2011 increased by 7.8% to 1.2bn compared to the previous year. EBITDA rose to 153.8m from 152.7m in 2010, while earnings after tax fell to 17.7m from 36.6m.
In the fourth quarter its revenues grew by 8.8% to 345.9m with EBITDA declining 2.7% to 41.7m and net profits reaching 6.8m.
Antonopoulos added that the company would concentrate on improving its cashflow, but at the same time “monitor and pursue new opportunities in the gaming space”. He said that he anticipated 2012 would be a “very interesting year as numerous new opportunities and developments are taking place in the sector”.
In Europe he said Germany and Bulgaria, one of its most profitable markets, would continue to provide the business with the biggest opportunities with both countries looking to regulate online gaming, while the US, where it has a stranglehold on a number of lengthy state lottery contracts, as and when it regulates, would enable the company to extend its market share.