Connect with us

Latest News

INTRALOT announces strong EBITDA growth +29.2% y-o-y and positive Earnings after Tax at €3.1m in 1Q23

Published

on

Reading Time: 5 minutes

 

INTRALOT SA (RIC: INLr.AT, Bloomberg: INLOT GA), an international gaming solutions and operations leader, announces its financial results for the threemonth period ended March 31st, 2023, prepared in accordance with IFRS.

OVERVIEW

  • Group Revenue at €89.5m (8.4% yoy).
  • EBITDA at €33.7m (+29.2% yoy) in 1Q23, with EBITDA margin reaching 37.7% from 26.7% in 1Q22.
  • LTM EBITDA at €130.5m, up by 6.2% vs. FY22.
  • Substantial growth in our US operations (Revenues +13.1%, EBITDA +31.6% yoy).
  • EBT in 1Q23 shaped at 10.9m vs. €2.3m in 1Q22.
  • NIATMI (Net Income After Tax and Minority Interest) at 3.1m, vs. €5.7m a year ago.
  • Operating Cash Flow at €37.2m in 1Q23 (+115.3% yoy).
  • Group Net CAPEX in 1Q23 was €7.2m.
  • Group Cash at the end of 1Q23 at €109.2m, €6.8m higher vs. Dec22.
  • Net Debt at €471.6m at the end of 1Q23, lower by 18.9m vs. Dec22 and €29.0m vs. 1Q22.
  • Net Debt/ LTM EBITDA at 3.6x in 1Q23 vs. 4.0x in FY22.

Group Headline Figures

INTRALOT Chairman & CEO Sokratis P. Kokkalis noted:

We are extremely proud of first quarter robust organic Ebitda growth of 29% and a return to Net Earnings, along with healthy cash flows and significant reduction of Group Net Leverage Ratio down to 3.6x, providing additional momentum to INTRALOT’s successful turnaround story as a result of our consistent efforts in the past few years. With healthy financials and new technical capabilities offered through next generation solutions for Lottery digital transformation, in both the retail and online worlds, we look forward to timely addressing upcoming maturities, further improving our capital structure, and implementing an ambitious plan for strong and sustainable growth in the US and key markets around the world, creating value for all stakeholders.

OVERVIEW OF RESULTS

REVENUE

Although the reported consolidated revenue posted a decrease compared to 1Q22, leading to a total revenue for the threemonth period ended March 31st, 2023, of €89.5m (8.4%), excluding the impact from the discontinuation of Malta license, underlying revenue from continuing operations increased by 17.5%.

  • From a contribution perspective, Lottery Games remain our largest contributor to Group turnover with a share of 60.4%, followed by Sports Betting with a share of 17.5%, VLTs monitoring with a share of 12.5%, Technology contracts with a share of 9.5%, and Racing with a share of 0.1%.
  • Reported consolidated revenue for the threemonth period is lower by €8.2m year over year. The main factors that drove top line performance per Business Activity are:
    • 20.4m (64.5%) from our Licensed Operations (B2C) activity line with the variance driven by:
      • Lower revenue in Malta (€21.5m) due to the license expiration early July 2022 and
      • Higher revenue in Argentina (€+1.1m or +10.9% yoy), driven by local market growth. In local currency, current year results posted a +104.5% yoy increase.
    • €+6.3m (+11.4%) from our Technology and Support Services (B2B/ B2G) activity line, with the variance driven by:
      • US operations’ increased revenue (€+4.6m or +13.1% yoy), mostly driven by the growth in Numerical and Instant games, further affected by the EUR depreciation (4.3% versus a year ago in average terms) and
      • Higher revenue from rest jurisdictions (€+1.7m or +8.6%).
    • +5.9m (+54.2%) from our Management (B2B/ B2G) contracts activity line with the variance driven by:
      • Strong momentum of our Turkish3 operations (+5.8m), driven by Bilyoners improved performance, favored by the growth of the online market. In 1Q23, the local Sports Betting market expanded close to 2.2 times yoy. Performance in Euro terms was partially mitigated by the headwinds in Turkish lira (+28.1% Euro appreciation versus a year ago),
      • Higher revenue from our US Sports Betting contracts in Montana and Washington, D.C. (€+0.1m) and
      • Steady performance in Morocco.

GROSS GAMING REVENUE & Payout

  • Gross Gaming Revenue (GGR) concluded at 83.4m in 1Q23, posting an increase of 4.5% (or +3.6m) year over year. The improved performance across most key regions managed to absorb the loss of sales from Malta and the higher payout ratio in Argentina (67.7% yoy on wagers from licensed operations4). 1Q23 Payout Ratio5 was higher by 3.5pps vs. 1Q22 (62.4% vs. 58.9%).

OPERATING EXPENSES & EBITDA

  • Total Operating Expenses marginally increased by €0.9m (or +3.9%) in 1Q23 (€22.7m vs. 21.8m) driven by the improved topline performance in USA and Turkey
  • Other Operating Income from continuing operations ended at €7.8m presenting an increase of 37.0% yoy (or €+2.1m).
  • EBITDA amounted to 33.7m in 1Q23, posting a doubledigit growth of 29.2% (or +7.6m) compared to 1Q22. The main drivers underpinning this performance are attributed to the strong growth in our US operations and the boosted performance in Turkey.
  • On a yearly basis, EBITDA margin on sales climbed to 37.7%, from 26.7% in 1Q22 (+11.0pps).
  • LTM EBITDA stands at 130.5m, up by 6.2% vs. FY22.

EBT / NIATMI

  • EBT in 1Q23 amounted to 10.9m compared to 2.3m in 1Q22, largely driven by the significant EBITDA contribution, the improved results from participations and investments, the gains on net monetary position and the benefit from the lower D&A.
  • NIATMI in 1Q23 concluded at €3.1m compared to €5.7m in 1Q22.

CASH FLOW

  • Operating Cashflow in 1Q23 amounted to 37.2m, increased by €19.9m, compared to 1Q22. The positive impact arising from the higher recorded EBITDA yoy and the favorable working capital movement was partially offset by the negative variance in tax payments.
  • Net CAPEX in 1Q23 was €7.2m, higher by 2.9m compared to 1Q22, with US projects consuming most of the CAPEX needs.
  • Net Debt, as of March 31st, 2023, stood at 471.6m, decreased by €18.9m compared to December 31st, 2022. Robust cash flow generation supported the continued deleveraging, with Net Debt / EBITDA dropping to 3.6x in 1Q23, from 4.0x in Dec22. Positive gross debt movements include the capital payments towards the Term Loan in US, the lower interest accrued in comparison with Dec22 and the positive FX impact on our USD denominated debt.

OUTLOOK/RISKS

The Company Management identifies significant opportunities in the growth of the Lottery and Sports Betting online markets and the expansion of regulated ilottery markets, as well as from the recovery from the implications of the recent pandemic. Combined with the evolution of INTRALOT’s new technological solutions for Lottery digital transformation, the Company is in position to capture more technology projects with an increased profit margin compared to previous years.

World economies continue to navigate through macroeconomic uncertainties, with interest rates at high levels and relatively slow economic growth.

Increased interest rates have a direct impact on the financing servicing costs of the Intralot Group, while the outlook indicates that central banks may start to ease their monetary policy by the end of 2023.

nflation is declining more slowly than expected, having strong impact on most of the industries and regions. However, the gaming industry seems to be more resilient than other sectors of the economy, presenting above average growth in most regions.

The Management of the Company closely monitors geopolitical and economic developments and is ready to take all the necessary measures for protecting its operations.

Continue Reading
Advertisement

Latest News

GR8 Tech Launches CRM Bonus Shop to Boost Player Engagement and Retention

Published

on

gr8-tech-launches-crm-bonus-shop-to-boost-player-engagement-and-retention
Reading Time: 2 minutes

GR8 Tech has rolled out CRM Bonus Shop—a fully integrated player-facing feature designed to drive engagement, increase retention, and optimize bonus budgets through gamified rewards.

The Bonus Shop enables operators to offer various virtual and real rewards, including free spins, free bets, gamification items, even physical items, spins in Wheel of Fortune, and more, in exchange for custom-branded artificial currency. Players earn coins through behavioral triggers like deposits or email verification, then choose their preferred rewards from a personalized shop interface.

Built directly into GR8 Tech’s CRM, the Bonus Shop offers full back-office control, real-time player wallet tracking, and complete front-end customization to match any brand’s tone, style, and language.

Key Benefits of GR8 Tech’s Bonus Shop for Operators

  • Enhanced Player Choice & Satisfaction: Players select rewards they actually want, increasing perceived value and engagement compared to traditional fixed bonuses.
  • Cost-Effective Bonus Management: Artificial currency provides greater value to players while reducing operator costs compared to traditional cash bonuses.
  • Behavioral Motivation: Automated currency distribution encourages specific player actions, improving key performance indicators.
  • Strategic Flexibility: A/B testing capabilities enable operators to compare traditional bonuses against gamified approaches and optimize strategies across different markets.

“Personalization is at its core. By tailoring offers to custom player segments, we ensure every user sees and can purchase the bonuses they truly want, boosting engagement significantly,”  said Kateryna Schevchenko, CRM Product Manager at GR8 Tech. “Additionally, the platform gives operators full control over the in-game economy by allowing them to set custom ‘prices’ for products using virtual currencies. This flexibility helps optimize retention costs, manage bonus budgets effectively, and maximize ROI.”

With advanced segmentation tools and engagement elements like gamification, GR8 Tech’s CRM transforms player interactions into engaging, value-driven experiences. The company’s approach has led to impressive results, including a 25% uplift in first-time deposits, an average 80% retention rate, and 75% monthly active users interacting with gamified tools. GR8 Tech’s CRM is a strategic asset for operators aiming to deliver highly personalized and performance-oriented player journeys.

 

GR8 Tech. Platform for Champions

GR8 Tech is an award-winning provider, delivering high-performance sportsbook and iGaming solutions that empower operators to lead and win in competitive markets. Key elements of GR8 Tech’s comprehensive portfolio include the Hyper Turnkey solution, ULTIM8 Sportsbook iFrame,  Infinite Casino Aggregation, and Platform Acceler8 suite, featuring its proprietary affiliate management platform, Aff.Tech.

With a geo-specific approach to solutions, a focus on practical innovations, and an operator-first mindset, GR8 Tech helps its clients achieve measurable results in their target markets quickly and efficiently. Trusted by top operators worldwide, GR8 Tech has over 100 successful cases and earned multiple recognitions, including the title of the Best Sports Betting Provider in CEE by GamingTECH Awards 2025.

The post GR8 Tech Launches CRM Bonus Shop to Boost Player Engagement and Retention appeared first on European Gaming Industry News.

Continue Reading

AI-driven gaming analytics

Chris Barranco Joins Quick Custom Intelligence as Director of Business Development

Published

on

chris-barranco-joins-quick-custom-intelligence-as-director-of-business-development

Quick Custom Intelligence (QCI), a leading provider of AI-driven analytics and enterprise solutions for the gaming and hospitality industry, today announced the addition of Chris Barranco as Director of Business Development.

Barranco brings 25 years of experience leading high-performing teams, driving revenue, and building durable client relationships. He is adept at solution-selling methodology and full sales-cycle management, with a proven track record of mentoring top-tier account executives, delivering high-impact presentations, and retaining key accounts. Known for a tenacious approach to new-business development and customer loyalty, Barranco will focus on expanding QCI’s market footprint, strengthening the partner ecosystem, and advancing go-to-market execution across QCI’s product portfolio.

“I’m excited to join the clear market leader and work with the exceptional team at QCI,” said Chris Barranco, Director of Business Development at QCI. “QCI’s commitment to turning data into action aligns perfectly with my approach to helping customers achieve measurable revenue impact. I look forward to working closely with our clients and partners to accelerate growth and deliver exceptional outcomes.”

We’re delighted to welcome an industry veteran of Chris’s caliber to the QCI team,said Andrew Cardno, CTO and Co-Founder of QCI. “His leadership, mastery of solution selling, and passion for customer success will further strengthen our ability to scale, deepen client relationships, and deliver the operational results our customers expect.”

As Director of Business Development, Barranco will lead initiatives to expand QCI’s presence across key markets, refine sales enablement programs, and collaborate with product and customer success teams to ensure a seamless path from discovery to measurable value realization.

The post Chris Barranco Joins Quick Custom Intelligence as Director of Business Development appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Latest News

Be Heard Above the Noise: Booming Games’ Dorota Gruszka on Standing Out in the Crowded Slot Studio Market

Published

on

be-heard-above-the-noise:-booming-games’-dorota-gruszka-on-standing-out-in-the-crowded-slot-studio-market
Reading Time: 4 minutes

With over 600 online slot studios competing for operator attention, cutting through the noise has never been harder. In this exclusive article, Booming Games’ Head of Marketing, Dorota Gruszka, shares her strategy for building a distinctive brand, forging lasting operator relationships, and creating campaigns that resonate in a crowded iGaming marketplace.

There are now more than 600 online slot studios, with each vying for operator attention and a solid position for its titles within casino lobbies. These 600+ studios are making a lot of noise, and this makes it incredibly difficult for individual studios to be heard.

But it is possible, requiring a clear strategy, creativity and consistency. Being loud is important – it’s the only way you’re going to be heard – but you also need to be relevant and authentic. And this requires a strong understanding of self.

Studios absolutely must know who they are and what they bring to the table, and ensure that these values are reflected in everything they do, from the games themselves to how they are launched and the nature of the partnerships forged with operators. It even extends to events and social media.

A sharp brand, meaningful relationships and marketing collateral that not only engages but also connects are critical to success. Of course, this is easier said than done, but when you have a strong team, defined goals and a product you believe in, it can be achieved.

Let’s take a closer look at some of the challenges studios face when it comes to marketing their brand and games.

 

There are plenty of hurdles to clear

The biggest challenge is, of course, standing out in the market, but second to that is navigating the complex and ever-changing regulatory landscape. Providers need to demonstrate compliance and responsible gaming practices, which means marketing must be transparent and aligned with operator expectations.

Another challenge is building and maintaining trust. Operators demand reliable partners that deliver quality products on time while supporting them beyond the initial sale. That means marketing needs to focus on relationship building, not just quick wins.

Then there’s flexibility, which has become a major differentiator. Operators look for partners that can adapt to their needs – the more flexible and collaborative a partner can be, the more value they bring, and this is a message that needs to come across clearly in B2B marketing activity.

 

Take a multi-layered approach

At Booming Games, we have taken a multi-layered approach to marketing our studio and the games we produce. This includes combining creativity, strategic planning and consistency. Brand awareness isn’t gained overnight – it’s an ongoing process across all channels and touchpoints.

Tactically, we have invested in strong PR and media partnerships and maintain a presence at major industry events. We also leverage social media, posting high-quality content across various channels and digital platforms.

We always go big with our game launches and invest in creative campaigns that showcase each title and ensure it gets noticed by casino managers. This is combined with tailored client communications and eye-catching merchandise that reinforces our visual identity.

 

The power of LinkedIn

One of the most effective marketing channels for a slot studio is LinkedIn, and we have focused a lot of our efforts on the platform. Since joining Booming Games in 2023, we have grown our follower base from 5,000 to almost 18000.

This growth has given us a much stronger platform from which to showcase our games, share company updates and connect directly with industry professionals. This, in turn, has driven exposure, engagement and, ultimately, led to additional operator partnerships.

Thinking outside the box is also important, especially in such an overcrowded industry.

A good example of this is our Ronaldinho Mascot campaign, which was a huge hit across the expos and saw thousands of people taking and sharing photos with the mascot across various social media channels.

But just as important is to listen carefully to partners, players and the wider market to ensure your brand, values and campaigns evolve and remain relevant and interesting. It’s about creating a brand people recognise, trust and enjoy interacting with.

 

Brand ambassadors are an important piece of the puzzle

Increasingly, studios are turning to brand ambassadors to help them do this. But it’s important to make sure the ambassador is the right fit – it’s about more than just attaching a famous name to your brand.

At Booming Games, we know first-hand just how effective brand ambassadors can be off the back of our highly successful partnership with footballing legend, Ronaldinho.

We struck a partnership with him just as the Brazilian market was moving toward regulation, and I truly believe it has allowed us to establish a strong foundation and presence in the region.

Ronaldinho is still relevant and popular, and having him associated with Booming Games has given us exposure, recognition and trust. It has also helped us become one of the first game providers to get certified in Brazil, allowing us to leverage the first-mover advantage.

That said, not all brand ambassador deals are as successful as ours with Ronaldinho. Sometimes, they require a lot of effort, coordination and investment and the return might not justify this. That’s why it’s important to evaluate every potential partnership carefully.

Ultimately, the brand ambassador must genuinely resonate with your audience, complement your brand values and support your long-term goals. When done right, it can be a game-changer.

Driving awareness for a studio is harder than ever, but there are plenty of tactics to turn to that can deliver results while having plenty of fun in the process. Being heard is important, but you must be making the right noise in the first place.

The post Be Heard Above the Noise: Booming Games’ Dorota Gruszka on Standing Out in the Crowded Slot Studio Market appeared first on European Gaming Industry News.

Continue Reading

Trending