Intralot Sees Legal US Sports Betting Market As A Great Way To Boost 2019/20 Growth

Intralot, lotteries and gaming solutions provider from Greece, will from now on focus more on the US market and will try to help drive the growth in 2019-20 by pursuing as many opportunities in this part of the world as they can.

The Annual General Shareholder Assembly of Intralot was held this week at the company’s Innovation Center in Athens where they presented the financial results, the new strategy and the major developments of the previous year.

Huge Potential for US Market

During this meeting, group chairman and the chief executive, Sokratis Kokkalis, said that legal sports betting represents a major opportunity for the business in the US.

Thanks to the growing number of states working on legalizing a sports wagering market, providers see huge potential when it comes to expanding gambling activities in this country. That’s why Intralot has appointed a new board of directors for its US-facing subsidiary not so long ago.

At this meeting…

…Kokkalis and other of the senior management team have also spoken about the lottery deals that were reached in the US during the last year. The company has extended deals in New Hampshire, Wyoming, and New Mexico and signed a new agreement in Illinois. Also, it will look to build on its new contract with Canada’s British Columbia Lottery Corporation and will pursue opportunities in Ohio.

BUT…

…besides making arrangements on the North American continent, the brand has struck new deals with the German state lottery Lotto Hamburg, Croatian State Lottery and Dutch Lottery operator, Nederlandse Loterij, and it has renewed it sports betting contract with Morocco’s La Marocaine des Jeux et des Sports (MDJS). The company has also defined new goals and those are markets in Turkey, Italy, Argentina, and Brazil.

Company Reorganization

In April, Intralot revealed they are planning to launch a cost reduction strategy after declines in turnover for all key operating segments in 2018. They blamed their struggles on foreign exchange losses and failure to secure new supply contracts during this year.

After posting these results…

…the company has reorganized its operations, technology, digital and commercial divisions as part of a wider restructuring of business. Their struggles have carried over from 2018 into the current year with an 8.5% year-on-year decline in revenue for the first quarter of its financial year, following weaker performances from all key business units.

About Intralot

Intralot was established in 1992 and is a leading gaming solution supplier and operator active in 48 regulated jurisdictions. The company has approximately 5,200 employees on a global level (3,000 of which are subsidiaries and 2,200 in associates) and was able to make €0.9 billion turnover in 2018.

This innovation-driven corporation…

…is offering to lottery and gaming organizations across the globe market-tested solutions and retail operational expertise. They have also designed a new ecosystem of holistic omni-channel solutions across verticals (Lottery, Betting, Interactive, VLT) for Lotteries digital transformation.

The World Lottery Association (WLA) had rewarded Intralot with the prestigious WLA Responsible Gaming Framework Certification and the WLA certificate for the Security Control standard.

Source:

“Intralot banks on US to drive 2019-20 growth”, igamingbusiness.com, June 26, 2019.