Athens-listed lottery and gambling systems provider Intralot SA has set out its mandate for continued international expansion following the firm’s annual general meeting.
Detailing expansion beyond its home market of Greece, company Chairman Sokratis Kokkalis has pointed to the continued US market expansion where Intralot currently services 12 states with 600 employees.
Furthermore, Kokkalis detailed to investors the firm’s positive progress within cash generating Turkey where Intralot operates a sports betting enterprise with telecoms giant Turkcell.
Seeking further Turkish expansion Intralot governance are closely monitoring the upcoming tender for the privatization of the National Lottery Milli Piyango and Turkish state-owned racing operator Horse Racing Club.
Kokkalis backs Intralot’s strategy, which has seen the company enter 32 countries to date. The Chairman further acknowledges that the firm is now reaping the rewards of its ‘business transformation’, improving the firm’s operational capabilities and technology infrastructure.
Updating investors, Kokkalis details that the firm is in a stable position to finance its global footprint, as Intralot governance refinanced its €325 million Senior Notes, due 2018, with a €250 million bond, due 2021, with significantly improved terms.
In parallel negotiation, Intralot governance further negotiated its €200 million revolving credit facility extended to 2019, increasing its commitment lines by €40 million.