Intralot Posts Strong Third Quarter Results with Revenue up 8%

The international gaming solutions provider, Intralot, released its latest financial update, uncovering details regarding its performance for the third quarter of 2023. Besides Q3 2023, the latest report shared insights regarding the company’s performance for the nine months ended September 30, 2023.

Intralot’s Q3 2023 revenue hit €104.8 million ($114.5 million). This result, compared to the €96.9 million ($105.8 million) reported for the same quarter in 2022, shows that this year, an increase of 8.1% is observed. On the other hand, gross gaming revenue (GGR) for Q3 2022 halted at €88.1 million ($96.2 million), while this year, it increased by 11.9% to €98.6 million ($107.7 million).

EBITDA in Q3 this year increased as well. The new financial update reveals that Intralot’s Q3 2023 EBITDA hit €38.2 million ($41.7 million). A comparison to the €33.0 million ($36 million) posted for the same period in 2022, shows that during the latest trading period, the company has seen growth of nearly 16% year-over-year.

While Q3 2023 revenue increased year-over-year, the results for the first nine months showed a slight decrease. The new financial report confirmed that Intralot’s revenue for the first nine months ended September 30, 2023, halted at €280.0 million ($305.8 million). This result, compared to the €301.7 million ($329.5 million) figure posted for the same period in 2022, shows a decrease of 7.2%.

While revenue decreased for the first nine months this year, GGR increased by 2.2% hitting €262.2 million ($286.3 million). Similarly, EBITDA for the first nine months of 2023 increased by 14.7% year-over-year, hitting €101.0 million ($110.3 million).

The Company Posted Strong Results, Says CEO and Chairman

Sokratis P. Kokkalis, Intralot’s CEO and chairman, spoke about the latest figures, explaining that the “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.” He outlined that the company recently completed an important Share Capital Increase by raising funds for a total of €135.0 million ($147.4 million). Finally, Kokkalis said: “I would like to thank all the investors who participated and trusted our vision and capability to deliver even stronger results in the future.”

Another important achievement for the company after the recent trading period was the extension of its agreement with OPAP. Announced back in October, the agreement with OPAP was extended from August 2025 until the end of July 2026. Upon announcing the extended agreement, the duo unveiled that two one-year extensions are also possible.