Intralot and Intracom Deny Merger Rumors

Online gaming firm Intralot and telecom group Intracom this week denied rumors that they are holding talks to merge after someone posted that the two were indeed working on a deal.

The two companies put out different statements that both stated that the rumors were false and that they're obligated to reveal any discussions, as they're both publicly traded companies. Rumors came out last week that Intralot was looking for a partner to improve its financial situation, as they recently lost a gambling contract in Turkey to the larger Scientific Games.

The loss of the contract will indeed negatively impact Intralot, as it made up for 40% of revenues, but they still have a lucrative sportsbetting contract in the country through the Bilyoner subsidiary.

Needless to say, there's likely to be some action by Intralot to improve the company's position, but it doesn't look like they'll be lining up with Intracom, at least in the near future.