INTRALOT has reported a strong performance for its lottery products throughout FY24, headlining total company revenues of €376.4m.
Lottery games made up 54.8% from the total Group turnover (up 3.4% YoY), followed by sports betting (23.1%), Video Lottery Terminals (11.3%) and Technology contracts (10.7%).
INTRALOT’s B2B revenue increased by €12m YoY (up 16.6%) thanks to a strong geographical performance in Turkey despite headwinds driven by Turkish lira devaluations.
Another INTRALOT market that had a direct impact on revenue due currency fluctuations was Argentina, where President Milei’s government brought a 50% peso devaluation at the end of 2023.
Despite this, B2C operations brought €8.5m more in revenue (up 30.1% YoY), or 55.2% more when adjusted to local currency.
Sitting still is not an option
Last year served as a catalyst for Greece-based INTRALOT to secure its long-term sustainability strategy across a number of international markets thanks to a string of new partnerships.
In Australia, the lottery solutions provider extended its contract with Lotterywest for two more years, with the option to add one additional year when the contract comes to an end in 2026.
Going over to Canada, INTRALOT’s US subsidiary got enlisted into a new project with the British Columbia Lottery Corporation (BCLC) for the digitalisation of the lottery’s land-based network and the provision of an online platform. This additionally extended the commercial partnership between the two entities until 2028.
INTRALOT Chairman Sokratis P. Kokkalis commented: “INTRALOT’s performance for 2024 has been positively impacted by very strong performance in the last quarter driven by strong revenue growth from North America, enabling the company to maintain its key metrics in profitability and leverage ratio by focusing on high profit-margin activities.
“We were able to win new contracts in the promising sectors of VLT monitoring in the US and online lottery in Canada and extend key contracts in our core business in Europe and Australia while actively pursuing every opportunity in our sector around the globe.”
While no specific amounts were provided in the forward-looking statement of the company, FY25 estimates could be offset by a settlement with the District of Washington DC that took place earlier in January.
INTRALOT’s US subsidiary settled a civil dispute worth a total of US$5m in relation to lottery games contracts and subcontracts in the District of Washington DC from 2019. The company has denied any admission of fault.