Intralot Revenues Sag in First Quarter

European betting firm Intralot SA has released their first quarter 2016 financial results, noting a 3.6% decline in revenues due to what it is claiming is poor performance in Australia.

The drop in revenues is a surprise, given the strong lottery performance of the company. Revenues for the period were €335.2 million, down from €347.7 million last year. The company's lottery operations contributed almost half of their revenues during the period, with numerical games bringing in 46.9% of revenues while sportsbetting accounted for 38.4%. Technology contracts accounted for 9.4% of revenues, while lottery terminals brought in 3% of revenues and racing products generated 2.3% of revenues. EBITDA was up 5.6%, with cash flow growing to €41.2 million, up 56.6% from last year.

For the first three months of the year, the company took in wagers worth €6.9 billion, up 2.7% from the same period last year.

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22 May 2016 - 10:15pm

Obviously tough times for the company, maybe they should concider how to improve that " poor performance" in Australia, whatever that means Smile I don't think the numbers are so bad but still it's a worrying signs when there is a drop in overall revenue.