Intralot gets Prepared for Growth in US market

Online casino and betting group, Intralot, has publicly posted their 2018 Q1 revenue and other figures on their website, revealing a mixed bag of results across all crucial business areas for the period of January 1^st – March 31^st . They have also announced that the company is seriously contemplating the swift launch of their operations in the US, after the sudden legalization of sports betting that swept across the nation.

Here are some of the fiscal and financial results that Intralot has posted: the revenue during the first three months of the year totaled €280.7 million, which is a 4.3% increase compared to same period last year. Gross gaming revenues also soared to €141.5 million, which is a 2.5% year-on-year increase. Adjusted EBITDA is also up 7.5% to €33.1 million.

The company’s EBITDA is down 5% to €13.2 million, as is operating cash flow, which sunk by 8.4% to €35.9 million. Its net debt is up to €528.3 million, while its gross debt also rose from €669.5 to €751.6 million.

More positive numbers are reflected on markets such as Poland, Bulgaria, Azerbaijan, Argentina, Turkey and Morocco due to various factors of success, while one notable loss was the suspension of sports betting license in Cyprus.

Group CEO at Intralot, Antonios Kerastaris, commented on these results and hinted at the future by saying: “The 2018 Q1 results show stronger sales and continuing growth in developed markets, reflecting increasingly successful market development efforts along with an upgrade of our offering with next-generation products and services for lotteries digital transformation. The emphasis remains on growth in markets such as the United States where the recent lift of the federal ban on sports betting creates tremendous business opportunities from the rise of a potential €20bn market in annual GGR terms, on top of great prospects in new flagship projects such as the Illinois State Lottery.”