Intralot's Q3 figures show steep fall in earnings
Lottery provider's profits rise in Americas and non-EU countries, but earnings before tax fall by over 70%.
Intralot’s earnings before tax for the nine months to 30 September 2011 declined sharply, dropping by 70.7% to 10.9m.
The lottery provider’s Q3 earnings showed a slightly higher decline, falling from 11.7m to 3.4m “ a 71.2% year-on-year drop.
Despite the fall in earnings before tax, turnover increased by 7.4%, and gross profit rose marginally, from 147.9 to 148.1, up by 0.1%.
Gross profit from the Americas rose by 30.4% following the extension of its deal with the Idaho State Lottery, and grew from 0.9m to 1.2m in non-EU countries. This helped offset a 23.9% decline in profits in the European Union.
The company submitted a bid to become OPAP’s new IT service provider in October after extending their VLT deal with the Greek monopoly in August. October also saw Intralot sell its minority stake in Cyberarts, allowing Fertitta Interactive to acquire the platform provider