Greek gambling operator INTRALOT released information about its financial results for the three-month period ended March 31, 2015. The company reported a 12% increase in revenue to €499.4 million.
The €53.7 million increase was analyzed in the following manner – €35.5 million came from INTRALOT’s South American operations, particularly those in Peru, Argentina, and Jamaica; €12 million came from Eastern Europe, mainly from Bulgaria and Turkey; €6.1 million from North America; €3.1 million from Western Europe; €0.8 million from Africa; -€3.8 million from the Asia-Pacific region after the operator sold its lottery license in Victoria, Australia.
INTRALOT pointed out that its sports betting division contributed most to the excellent performance of the gambling company. Revenue generated from sports betting operations accounted for 48.6% of the overall revenue. Numerical games represented 31.3%, VLTs/AWPs contributed 10.8%, IT products and services accounted for 6.8%, and racing operations represented 3.1%.
EBITDA decreased 10.6% year-on-year to reach €46.2 million during the period in review. The drop was attributed to the fall-off of the company’s contracts with OPAP and Romanian operators, as well as to the higher than usual payouts.
Gross profit totaled €69.3 million, down 4.2%. INTRALOT’s European operations generated the amount of €15.7 million in gross profit compared to €28.6 million during the first quarter of 2014. Gross profit from the Americas amounted to €20 million, up 19.6%. Other operations contributed a total of €34.7 million compared to €26.7 million posted for the same period a year ago.
Antonios Kerastaris, Chief Executive Officer of the Greek gambling operator, said INTRALOT renewed its existing contracts win Morocco, the Netherlands, and Azerbaijan. Furthermore, the company kept on expanding its portfolio and paying special attention to gaming content, mobility, etc. Mr. Kerastaris also pointed out that they will remain focused on improving the player experience.
According to the executive, the latest results posted are in line with INTRALOT’s aim to “generate top line growth” from its current projects as well as greenfield development. The gambling operator is to strive for improving its bottom-line and generating positive cash flow.
At present, the company offers to its customers various gaming and sports betting options, as well as gaming and transaction processing systems. INTRALOT provides its products and services in as many as 57 jurisdictions on 5 continents. About 5,400 people are working for the Greek gambling operator, which reported revenue of €1.85 billion for 2014.
