Published
LotteryFinancialSports BettingIndustry

Intralot posts 3% H1 growth but still harbouring €508.7m debt

Intralot has announced the results of its H1 report, which saw the gambling company post an annual 3% revenue increase for H1 2022.

intralot h1 2022 results gambling insider web image

The report shows Intralot made total gross revenue of €168.5m ($168.8m) for H1 2022, up €4.6m on last year. Meanwhile, EBITDA also increased by 1% to €55.1m in 2022.

Breaking it down further, Intralot’s 2022 Q2 showed an annual revenue growth of 4%, totalling €88.7m on €85.1m for the year prior.

So far in 2022, the main source of revenue has been driven by lottery games and sports betting divisions, which accounted for 64.1% and 15.7% of the total H1 revenue for this year.

However, despite the positives, Intralot still has a net debt of €508.7m and its operating cash flow fell 19.2% to €41.4m. Furthermore, the report also showed a revenue drop in the US market of €5.9m, down 7% on last year, something Intralot says was boosted by a large jackpot in Q1 2021 – as well as higher merchandise sales.

Overall, the report is steady for the Greek gambling company, which has shown steady growth over the last year in its H1 and Q2 results – in spite of losses in the US.

Commenting on the financial results, Intralot Chairman & CEO Sokratis P. Kokkalis said: “Intralot has recently completed a series of strategic transactions that included a Share Capital Increase of €129m with the participation of a new cornerstone investor, the gaining of control of 100% of Intralot Inc. in the US, and the refinancing of $254m of Notes issued by Intralot Inc. via a new Term Loan and RCF.

"These events in combination with continuing strong performance as reflected in the first half results put Intralot in a stable course to tap new strategic opportunities in developed markets.”

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
 
Premium Connections
Consultancy
Executive Profiles
Hard Rock Hotel & Casino Tejon
Evolution
Follow Us

Facing Facts: Analysing figures from emerging gambling markets

Where is the gambling market on the rise, and are there any...

Taking Stock: A guide to lottery/iLottery operator and supplier prices

Gambling Insider tracks lottery/iLottery operator and suppli...

New Horizons Cover Feature: United Arab Emirates

With its first land-based casino set to open in 2027 and a n...

New Horizons Cover Feature: Brazil

Brazil performed quite the feat by getting its heavily delay...

The best of Malta at the Global Gaming Awards

Powered by Gambling Insider, the Global Gaming Awards are th...

Preview: SiGMA Malta 2024

A place in the winter sun: SiGMA returns to the home of iGa...

Company profile: Soft2Bet

Bill 55: Advantages and challenges for Maltese operators in...

Company profile: DS Virtual Gaming

DS Virtual Gaming is a leader in the gaming industry, utilis...