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Intralot GGR up in YTD report despite overall revenue decrease

EBITDA and GGR were up 14.7% and 2.2% respectively, while overall revenue saw a decrease of 7.2%. 

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Intralot Group has announced its year-to-date (YTD) results, reflecting its last nine months of operations up to the end of September 2023. Nine-month revenue was reported at €280m ($305.6m), which reflects a 7.2% year-on-year decrease; however, Q3 revenue saw a rise of 8.1% to €104.8m.  

Of this YTD revenue, €262.2m was from gross gaming revenue (GGR). This accounts for a 2.2% increase from this same period last year, meaning that despite an overall revenue decrease, gaming revenue has continued to display minor growth. 

When breaking down the company's earnings, 12.3% is derived from IT products and services while the rest is drawn from video lottery terminals, sports betting and lottery games. Lottery games specifically covered 56.8% of the revenue earned in the past nine months, or €159m. 

EBITDA both quarterly and in the last nine months was up from the same period last year. YTD EBITDA was reported at €101m, which is a year-on-year increase of 14.7%. This reflects a similar increase in EBITDA, which was reported at 15.9%.  

YTD stock prices have been at an all-time high this week, peaking on 23 November at €0.99. This is compared to the low reported on 4 January at €0.58. 

Intralot has made several notable business moves this year so far. The company has experienced several C-Suite changes including the appointment of Richard Bateson as CCO in March, while developing and maintaining business relationships such as those with the Wyoming Lottery in July.  

On the results, Intralot Chairman & CEO Sokratis P. Kokkalis said:  “Our results demonstrate Intralot’s new strengths returning to Net profits, strong EBITDA growth and cash flow generation, hence fulfilling all the goals we have set out.

"I would like to thank all the investors who participated and trusted our vision and capability to deliver even stronger results in the future. “ 

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