Intralot records revenue growth but increased debt for Q1 2018

Athens listed gambling technology and lottery systems supplier Intralot recorded solid revenue growth for its Q1 2018 trading. 

The firm reports a modest gross gaming revenue (GGR) increase of 2.5% for Q1 2018, which was further complemented by solid revenue (+12.7%) and EBITDA growth (+15.6%), while group revenues rose by 4.3% in Q1 2018 compared to the previous period of 2017.

However, net debt stood at €528.3 million, up €17.6 million from December of last year, with the firm hopeful that the repealing of PASPA could help remedy this.

Intralot Group CEO Antonios Kerastaris tried to focus on the positives outlined in the results: “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.

“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 USD 20bn market in annual GGR terms, on top of great prospects in new flagship projects such as the Illinois State Lottery.”

Elsewhere, Intralot unveiled Michael Kogeler as Chief Operating Officer earlier this month. Kogeler will be responsible for the business orchestration of the group’s operations around the world, the relationships with partners and customers and the trading operations.

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