Intralot pulls out of France after large European earnings fall
Greek operator asks ARJEL to repeal its sports betting licence, which had four years to run.
French regulator ARJEL has heeded to Intralot’s request to repeal its sports betting licence, effectively seeing the Greek operator pull out of the market.
After being awarded a five-year sports betting licence last year with an option for an extension, Intralot said it would then apply for additional poker and horse betting licences, but further French licences never materialised.
The news comes after the company recorded a 70.7% year-on-year drop in earnings before tax for the nine months ended 30 September, with gross profits from its European Union down 23.9%.
Intralot also recently declined to exercise its option on its minority stake in CyberArts, the poker platform provider which was bought by Fertitta Interactive in October.