Intralot Has Mixed First Quarter, Plans US Expansion

Gaming group Intralot has announced that they're planning on launching operations in the United States after they posted mixed fiscal results in the first quarter.

The company's fiscal results for the first quarter ending March 31st, 2018 were:

• Revenues of €280.7 million, up 4.3% from last year
• Gross Gaming Revenues up 2.5% to €141.5 million
• Adjusted EBITDA up 7.5% to €33.1 million
• EBITDA down 5% to €13.2 million
• Margins down to 4.7%
• Operating cash flow down 8.4% to €35.9 million
• Gross debt up to &euro751.6 million
• Net debt up to €528.3 million

Commenting on the results and a potential expansion in America, company CEO Antonios Kerastaris said, "The 2018 Q1 results show stronger sales and continuing growth in developed markets, reflecting increasingly successful market development efforts along with an upgrade of our offering with next generation products and services for lotteries digital transformation.

"Emphasis remains on growth in markets such as the United States where the recent lift of the federal ban on sports betting creates tremendous business opportunities from the rise of a potential €20bn market in annual GGR terms, on top of great prospects in new flagship projects such as the Illinois State Lottery."