Asia Bulletin: Intralot secures decade-long lottery deal in Taiwan

Updated:2024-03-20 09:22    Views:151

Intralot has agreed a decade-long deal to become the technology provider to Taiwan’s Public Welfare Lottery.

The deal comes with an international competitive tender issued by CTBC Bank to LotRich – of which Intralot is a major shareholder. The company will provide its technology to the CTBC Bank and its LotosX gaming platform, alongside its IGMS instant games management system, RetailerX retailer management system and Canvas Signage content management system.

Furthermore, 5,500 PhotonX betting terminals will be installed across the country, with Intralot also providing maintenance and help for the lottery.

The news comes shortly following Intralot’s Q1 report for 2023, in which it saw revenue of €89.5m ($95.8m) – representing an 8% decrease.

However, EBITDA was up 29% to €33.7m, with NIATMI (net income after tax and minority interest) at €3.1m compared to -€5.7m a year ago,poker online cash and net debt decreasing from €500.6m to €471.6m, a fall of 6%.

Commenting on the report, Intralot Chairman & CEO Sokratis P. Kokkalis said: “We are extremely proud of first quarter robust organic EBITDA growth of 29% and a return to net earnings, along with healthy cash flows and significant reduction of group bet leverage ratio down to 3.6x, providing additional momentum to Intralot’s successful turnaround story as a result of our consistent efforts in the past few years.”

Intralot also appointed Nikolaos Nikolakopoulos as the new CEO of its Atlanta, Georgia-based subsidiary, Intralot Inc.

Nikolakopoulos joined Intralot in 2007 and replaces Byron Boothe, who will remain a Board of Directors member at Intralot and advisor to the management.