Intralot generated revenue of €173.6m in the first half of 2024, down almost one per cent from last year, including the impact of €10.3m due to the exchange rate movement in Argentina within December 2023.
Revenue for the company’s Licensed Operations (B2C) in Argentina fell by €7.4m, or 33.6 per cent. Lottery Games remained the largest contributor to group turnover with a share of 56.6 per cent, followed by Sports Betting with a share of 22.5 per cent, VLTs monitoring with a share of 12.1 per cent and Technology contracts with a share of 8.8 per cent.
Revenue in Turkey fell by €7.6m or 25.4 per cent, driven by local market growth and market share gain in Turkey, despite the headwinds in Turkish lira, down by 19.5 per cent. Turkish performance along with better sales in our US Sports Betting contracts, were in part counterbalanced by lower recorded revenue in Morocco as a result of the contract renewal which has a smaller contract value due to its limited scope.
Intralot Chairman Sokratis P. Kokkalis said: “Half year results confirm the company’s stable course and maintenance of key financial indicators at desired levels, in spite of FX headwinds and seasonality effects. Strengthened by the Group’s improved financial position, the company continues to deploy and take live its new advanced lottery engine, Lotos X, and further developing the entire lottery technology ecosystem in developed markets such as Canada. At the same time, we are currently pursuing a large number of promising commercial opportunities in North America and Australia while renewing the trust and cooperation with existing important clients such as in The Netherlands and in Ireland.”
The quarter highlights included the successful migration of the British Columbia Lottery Corporation’s (BCLC) retail lottery system to its innovative LotosX Omni ecosystem fully deployed on a Cloud technology stack. This achievement signifies a major milestone for Intralot in North America, while making BCLC one of the first lotteries in the world to adopt a fully cloud-based lottery system.
On August 26, 2024 Intralot S.A. announced the three-year contract extension of its subsidiary in The Netherlands, Intralot Benelux with Nederlandse Loterij Organisatie to continue providing operations and management services for TOTO retail sportsbook has been activated. TOTO is the sports betting brand of NLO and is operated through a retail network of 4,000 POS. The contract extension is through June 2027.
In Ireland, Intralot signed a three-year three contract extension, through November 2027, with
Premier Lotteries Ireland DAC (PLI). This extension allows Intralot to continue providing its
advanced central gaming system for the operation of the National Lottery of Ireland through a
retail network of more than 4,300 Intralot terminals, as well as serving mobile and web
players.