Intralot publishes results and explains itself

Eric Bianchi
May 31, 2011
3 Comments

Intralot boothWashington DC’s poker revenue partner has today released its results for the first quarter of 2011. After a year that has so far seen aggressive expansion on their part, Intralot saw their earnings before tax drop by a dramatic 41.6% leaving them with €16.2m. This was the sole blip as EBITDA reached €39m, up by 14.6% on the same period in 2010. Revenues were also up by 32% year-on-year.

Intralot CEO, Constantinos Antonopoulos, commented, “We are satisfied that we managed to grow our sales and EBITDA during the 1Q of 2011. Moreover, in our FY 2010 results announcement we stressed that from 2011 and onwards we would focus on the improvement of the company’s cash-flow. I am very pleased to say that we have accomplished this already in our 1Q 2011 results, as net debt decreased marginally despite a front loaded quarter in terms of CAPEX. We believe that in the next three quarters of 2011 the improvement will be even greater.”

The CEO also added that in the coming months they will focus on “innovation, the exploitation of our existing projects, the liberalization of selected markets, the privatization of lotteries, and the continued improvement of our cash flow generation.” This will all be to “increase their shareholders’ value.”

Intralot has also moved to clarify the situation involving a number of the company’s executives. It was reported over the weekend that several, including Chairman Sokratis Kokkalis, may face prosecution over a contract with OPAP in Greece.

A statement by the company read, “In Greece, the initiation of prosecution doesn’t amount to evidence of guilt in relation to the persons involved but on the contrary it constitutes the initiation of the process for examining on whether or not any evidence of wrongdoing exists.”

It’s in relation to a deal for technical services signed for the period between 2005 and 2007. The Athens Court of First Instance district attorney will investigate the deal.

If you have any further information related to this story that you would like to share with us privately please click here.

Can't get enough CalvinAyre.com? Follow us on Twitter and Facebook, then you'll never miss out on the latest gaming industry news.

Share
Tags: Article, Intralot, OPAP
Views and opinions expressed are those of the Author and do not necessarily reflect those of CalvinAyre.com
  • http://calvinayre.com/2011/06/01/business/skybet-racing-post-intralot-italia/ Business news | Skybet, Racing Post, Intralot Italia

    [...] where it’s perfectly ok to stare at scantily-clad women all day. For the second year running Intralot has signed up to sponsor FIVB Beach Volleyball Swatch World Championships in Rome from June 13th to [...]

  • http://calvinayre.com/2011/06/03/business/bodog88-boss-robert-gustafsson-talks-asia-live-dealer-and-the-market/ Bodog88 Boss Robert Gustafsson talks Asia, Live Dealer and the Market

    [...] bad news for the public online gaming companies and their oft-abused shareholders. As we’ve discussed often on CalvinAyre.com, public companies lack the ability to move quickly [...]

  • http://calvinayre.com/2011/06/28/business/intralot-making-moves-in-peru/ Intralot, IGT and Playtech news | Business news

    [...] Intralot is reaching ever further into South America with the launch of a number of new instant games. Peru is the latest country to benefit with two nationally famous actresses helping to kick-start the campaign. Mayra Couto and Magdyel Ugaz are the new faces of the instant lotteries entitled “Rapitnikas.” Sandra Merino, Marketing Manager of Business Unit of Intralot Lottery, commented, “Magdyel has charisma and big influence on our target group. A new edition of the game with her image will allow us to get closer to our consumers. The public itself was the one that asked us to launch a second edition.” [...]