Intralot Announces Q1 2025 Financial Results

Intralot has announced its financial results for the three-month period ended March 31, 2025.

Intralot noted business uplifts in Turkey and Argentina helped steer its overall 10.9% year-on-year increase in Q1 revenue.

The international gaming solutions and operations provider said its management contracts division reported a 22.8% revenue jump, triggered by 61% local growth of the online sports betting market in Turkey.

Revenues in Intralot’s Licensed Operations (B2C) business unit rose by 64.8%, or €4.1m, due to “improving macroeconomic conditions” that are “supporting market growth.”

Intralot added that Technology and Support Services revenues climbed 1.6% due to strong performance in Argentina, upward sales trajectory in Croatia and organic growth in Oceania.

However, performance in the US was impacted by lower activity of multi-state jackpots.

Overall, Intralot’s revenue climbed almost 11% to €94.4m in Q1, up from €85.1m in Q1 2024.

Gross gaming revenue increased 8.3% to €88.5m, while adjusted EBITDA climbed 0.3% to €30.2m.

Intralot chairman Sokratis P. Kokkalis said: “Intralot’s results are characterised by revenue growth and free cash flow generation combined with stable profitability and continuing debt reduction, resulting in net debt leverage ratio of 2.4x.

“On the commercial front the company renewed key contracts in New Zealand through 2032 and New Hampshire through 2033, with the latter becoming the first US State to install our new central lottery platform Lotos X with its advanced functionalities.”

Lottery, at 55.2% of revenue, remained Intralot’s biggest growth driver ahead of sports betting, which accounted for a quarter of Q1 revenue.