Intralot and Intracom deny news of merger

Greek gambling company Intralot and local IT holding firm Intracom have both denied news about their potential merger. In their separate statements, which curiously looked identical, both companies stressed that the news did not “correspond to reality.”

There had been rumours that a mega-merger of Intralot and Intracom was on the cards. The rumours emerged after Intralot suffered a drop of the nominal value of its bond and a downgrading of its credit rating at the start of the year.

The rumour gained ground because Intralot and Intracom have the same founder and majority shareholder – Greek business mogul Sokratis Kokkalis. Mr. Kokkalis stepped in as the new CEO of the gambling company early this month, replacing Antonios Kerastaris. The now former Chief Executive of the Greek gaming, betting, and lottery group departed after Intralot lost its bid to continue providing sports betting technology to Turkey’s state-owned operator Iddaa.