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NEWS 1 March 2019

Intralot Chairman Kokkalis replaces Kerastaris as CEO

By Tim Poole

Intralot CEO Antonios Kerastaris has left the company and been replaced in the role by Chairman, Founder and majority shareholder Sokratis Kokkalis.

Kokkalis will carry out both the Chairman and CEO roles, while Kerastaris will be replaced by Alexandros-Stergios Manos on the board of directors.

Intralot briefly thanked Kerastaris for his "contribution in the past 10 years" in its press release, saying the executive had resigned.

The supplier is yet to announce its FY financial results for 2018, although its report for the nine-month period ending 30 September showed only a 1% year-on-year growth in revenue to €798.6m ($908.4m).

EBITDA also fell 7% to €114.9m, while Intralot’s net loss grew by 27% to €7.9m in Q3.

Intralot’s joint venture with Turkish mobile phone operator, Turkcell, was recently confirmed to have lost control of Turkey’s sole legal sports betting operator, Iddaa; it had previously run Iddaa since 2008.

There was better luck in Washington DC this year, however, where the DC Council awarded exclusive rights for mobile sports betting to Intralot.

RELATED TAGS: Lottery | Sports Betting | Industry
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