International gaming solutions and operations leader, Intralot SPA, announces its financial results for the three-month period ended March 31st, 2021, prepared in accordance with IFRS.
For Q1, the company has declared a group revenue of €102m, a 9.3% increase year-over-year when compared to the same period last year (Q1 2020: €93.3m).
The group reported gross gaming revenue (GGR) of €80.5m for the quarter, an 8.3% improvement on the previous year (Q1 2020: €74.3m).
The Athens-listed gambling technology group highlighted the recovery of its lottery games inventory as the group’s ‘top line GGR driver’, comprising 63% of group revenues.
Further positives see Intralot reduce its period net losses to €7.3 million, recorded as 58% improvement on Q1 2020’s corresponding loss of €17 million.
“First quarter results show strong Revenue and EBITDA growth, driven by robust operational performance and successful implementation of cost containment measures while maintaining a strong cash position,” stated Intralot Chairman & CEO Sokratis P. Kokkalis.
“At the same time, we continue to sharpen our focus on strategic markets with higher margins, launch new operations, such as Croatia, and roll out our new product portfolio, overall pointing to a very healthy operational performance for 2021,” Kokkalis added.
Brazil
In the report the firm noted that on May 14th, 2021, Intralot announced that it has reached a binding agreement with “SAGA CONSULTORIA E REPRESENTAÇÕES COMERCIAIS E EMPRESARIAIS” (SAGA) in Brazil to sell its entire stake in “Intralot do Brasil Comércio de Equipamentos e Programas de Computador Ltda”, representing 80% of the company’s voting capital. SAGA is the only other shareholder of Intralot do Brasil holding 20% of the company.
Intralot will continue to provide its gaming technology to Intralot do Brasil following closing of the transaction. The total cash consideration for the stake sale amounts to €700,000.
Source: GMB
