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.