Intralot H1 revenues up 17%
Greek lottery and gaming service provider records 687.3m for the six months ending 30 June.
Intralot continues to post solid financial results with a 17.2% increase in consolidated revenues for H1 2012, reaching 687.3m compared to 586.4m in the same period last year, as a flurry of activity sees the company expand its online services globally.
The Greek lottery and gaming service provider’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 12.2% to 81.4m in comparison with 72.6m in H1 2011. However, net debt increased by 26.1m to 388m as a result of costs for the renewal of Intralot’s Malta gaming licence.
Recent months have seen the company sign numerous deals to provide online services around the world, with a joint venture deal to supply online games to the Mexican national lottery signed with Sorteo Games last month.
July saw the company launch betting apps for the Italian market and live casino games on its own dot.it website and agree a deal to provide technology for Betsson’s Italian-facing casino StarCasino.it. In June, Intralot launched online and mobile fixed-odds sports betting sites in South Africa. Intralot has also won a tender to become the Croatian State Lottery’s strategic partner for a new online casino.
However, it suffered a blow in July when it was overlooked by OPAP to become the Greek monopoly’s IT provider, losing out to GTECH G2 on a three-party shortlist.
Intralot Group chief executive Constantinos Antonopoulos said in statement: “Regarding our first half results, the Group continued to grow both on a revenue and EBITDA basis, while cash-flow was burdened by concentration of capex for a number of projects that we are currently implementing, including the Malta license fee payment in Q2 and the VLT monitoring system in Australia, which will have high returns in the mid-term.”