Intralot generated group revenue of €102.0m ($124.3m) for Q1, a 9% increase year-on-year.
Lottery games were the largest contributor to Intralot’s top line, comprising 63% of the group's total; sports betting contributed to 19.1% and VLTs only 8.7%.
Gross gaming revenue (GGR) amounted to €80.5m in Q1 2021, an 8% rise. The company reported a 55% yearly increase in EBITDA to €24.4m, while adjusted EBITDA had a similar incline of 56% to €20.8m.
Intralot's North American operations “achieved significant" growth," a 22% increase in revenue and an 82% jump in EBITDA.
Intralot had launched US sports betting in Montana and Washington towards the end of 2020.
In addition, operating cash flow increased by 127%, while group net capital expenditure was reduced by 48%.
Intralot Chairman & CEO, Sokratis P. Kokkalis, said: “First quarter results show strong revenue and EBITDA growth, driven by robust operational performance and successful implementation of cost containment measures, while maintaining a strong cash position.
“At the same time, we continue to sharpen our focus on strategic markets with higher margins, launch new operations, such as Croatia, and roll out our new product portfolio; overall pointing to a very healthy operational performance for 2021.”
After the quarter, Intralot announced the sale of an 80% stake in Intralot do Brasil; the sale to SAGA was agreed for a total cash consideration of €0.7m.
In the same month, the company also confirmed its subsidiary in The Netherlands, Intralot Benelux BV, had completed the transition of the Nederlandse Loterij’s full gaming portfolio.