Intralot sees Q1 improvements lower debt load

Intralot sees Q1 improvements lower debt load

Article brief provided by SBC News
  • Ted Menmuir, SBC News
May 31, 2023 8:56 PM

Intralot SPA cites confidence in achieving its headline 2023 objectives of improving profitability and reducing long-term debt.

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The Athens-listed gambling technology group maintains its full-year expectations as Q1 revenues stand at €83.4m [$89.2m], a 4.5% increase from the same period in the previous year, despite encountering an 8.4% decrease in turnover to €89.5m.

The decrease in turnover was attributed to the discontinuation of the firm’s Malta B2C licence, which accounted for an estimated €21m revenue hit.

The group’s Malta drags were overcome by the improved commercial results of Technology and Support Services (B2B) in the US (+11%), alongside a 54% increase in it’s Managed Services unit – which accounted for a €5.8 gain in its Turkish Bilyoner Contract.