Intralot records revenue growth in first quarter

Intralot, the gambling service provider based in Greece, has posted impressive revenue results for the first quarter of 2018. It has reported a 4.3 per cent hike in revenue and a 1.9 per cent growth in EBITDA, compared the corresponding figures in 2017.

The company has amassed a €280.7 million turnover and its EBITDA reached €42.6 million.

Despite the revenue surge, Intralot’s net debt increased by €17.6 million to reach €528.3 million during the first quarter. However, the firm sees a quick recovery on the debt front following US Supreme Court’s decision to revoke PASPA.

 “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,” Intralot Group CEO Antonios Kerastaris said and added: “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.”

Source: FocusGamingNews