Casino News | Global revenue from Intralot games hit by pandemic

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Gaming solutions and the operator Intralot saw its annual turnover for 2020 fall 16.6% to 364.8 million euros.

The Greece-based company, active in 41 legal jurisdictions, said the lack of sporting events to bet on was a major concern over the past year, as its revenue is largely driven by payers’ disposable income and the level of payers. lottery gaming and shopping activity. .

“Covid-19 has resulted in a lack of content on sports betting, which has further resulted in delays in the expected increase in our EBITDA from the nascent sports betting income stream. The estimated impact of the the company’s pandemic for 2020 is around 25 million euros at group EBITDA level, ”he said.

Intralot’s gross margin for the year was € 75.3 million compared to € 94.3 million in 2019, down 20.1%. EBITDA was up 2.5% to € 66.2 million against € 64.6 million.

Chairman and CEO Sokratis P. Kokkalis said: “During fiscal year 2020, we have been faced with the adverse effects and disruption of the Covid-19 pandemic, which has had a significant impact on the industries of the lottery and sports betting. This impact was only partially offset by mitigation measures, operational improvements and cost containment efforts.

“We remained focused on developed markets experiencing significant growth in the United States in lottery operations and we launched two new sports betting operations in Montana and Washington DC, while we renewed major contracts in Georgia, USA. United States, as well as New Zealand, Australia and the United Kingdom. The management of the company has also devoted significant efforts to negotiations with bondholders to optimize the capital structure through a transaction which should be finalized during the first half of 2021. “



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