Lottery games continue to drive Intralot’s year-to-date revenue, as revealed in the Greek B2B gambling firm’s latest financials.
For the nine months ending September, consolidated group revenues came in at €242.5m, down 2.9% from year prior (9M’ 24: €249.8m). Of that, lottery games held up the majority share with 53.6%, followed by sports betting (21.6%), video lottery terminals (13%), and IT products and services (11.8%).
By region, revenues from the Americas rose up to €144.2m from the previous year’s €143.4m. Europe and RoW were down, however, each coming in at €33.4m (€35.7m) and €64.9m (€70.6m) respectively – reflecting macroeconomic headwinds and currency fluctuations.
Adjusted Net Debt was reduced to €298.8m (9M 2024: €326.2m). Adjusted EBITDA went down 1.6% YoY to €90.1m (€91.6m), but margins increased to 37.2% (36.7%). Operating income was up 4.8% YoY for a total of €23.1m, whilst operating expenses were cut by 16.1% to €69.4m (€82.7m).
QoQ performance saw group revenues go down 11.8% YoY to €74.5m (Q3 2024: €84.5m). Quarterly accounts from the Americas dropped to €43.5m (€47.9m), Europe was down to €11.1m from the €13.1m in Q3 2024, while RoW came in at €19.8m (€23.4m).
The standalone results for Intralot Parent Company brought in revenues of €27.4m for the nine months ending September, which were up 8.5% YoY (€25.2m). Gross profits came in at €6.9m, up 11% from the year prior (€6.2m). Year-to-date EBITDA stood at minus €400,000, but still an improvement over last year’s €600,000.
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Still, management remained confident on delivering significant end-of-year value to shareholders thanks to Intralot’s recent acquisition of Bally’s Interactive, which is expected to raise the Group’s pro-forma revenues north of €1bn.
Robinson Reeves, CEO of Intralot, said: “Bally’s International Interactive has been on track with its stated guidance in the same period having delivered around €548m in revenue with a hefty 43% Adjusted EBITDA margin for Q3.
“Our guidance for full-year 2025 pro-forma the two entities annualised is expected in the area of €1.07bn revenues and €435m in adjusted EBITDA, i.e. a combined margin of 40.65%.”