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

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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.

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NetBet Partners with Fight Disciples

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NetBet, a leading online gaming platform, has announced an exciting new partnership with world-renowned boxing & MMA podcast the Fight Disciples, co-hosted by award-winning broadcasters Adam Catterall and Nick Peet.

The partnership will span some of the UFC’s biggest events, including Max Holloway vs. Dustin Poirier at UFC 318, as well as major upcoming boxing bouts.

This partnership builds on NetBet’s recent announcement as the official betting partner of the UFC in the UK and other parts of Europe. It will play a key role in boosting visibility for NetBet’s popular UFC Predictor Game. As part of the collaboration, NetBet branding will feature across all Fight Disciples UFC content, including behind-the-scenes access and exclusive fighter interviews.

Part of this deal will also see the Fight Disciples and NetBet team up to provide all-encompassing coverage for three huge upcoming boxing fights; Oleksandr Usyk vs Daniel Dubois, Katie Taylor vs Amanda Serrano and Saul ‘Canelo’ Alvarez vs Terrance Crawford.

Adam Catterall, co-host of the Fight Disciples Podcast, said: “We’ve always prided ourselves on being the voice of the fight fan, so teaming up with NetBet – the official sportsbook and betting partner of the UFC – is a massive moment for us. This partnership gives us the opportunity to get even closer to the action and, more importantly, bring our audience along with us. Whether it’s behind-the-scenes insight, exclusive content, or on-the-ground access at the biggest events, it’s all about delivering that front-row feeling to our listeners.”

Tristan Wootton, Head of UK at NetBet added: “With NetBet making huge waves in the world of fight sports, this partnership with the Fight Disciples represents another exciting opportunity with regard to brand development. We feel confident that our players will enjoy the engaging content produced from this partnership, with so many brilliant UFC and boxing shows just on the horizon!”

The post NetBet Partners with Fight Disciples appeared first on European Gaming Industry News.

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Soft2Bet’s brand Don.ro Becomes Main Sponsor of CFR Cluj in Multi-Year Agreement

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Soft2Bet continues its strategic expansion in Romania through its rapidly growing online entertainment brand, Don.ro, which has entered a multi-year agreement as the main sponsor of CFR 1907 Cluj, one of Romania’s leading football clubs.

Beginning with the 2025-26 Liga 1 season, leading Romanian brand Don.ro’s logo will feature prominently on CFR Cluj’s home and away kits, training gear, and throughout the “Dr. Constantin Rădulescu” stadium. The partnership with CFR Cluj also includes a slate of live and digital activations powered by Soft2Bet’s innovative platform, designed to deepen fan engagement.

“We are excited to announce our partnership with Don.ro, a Romanian brand that shares our values of performance, professionalism, and the desire to build something lasting. The fact that Don.ro is becoming the main partner of our club is both a validation of the work we do every day and an important step in strengthening CFR Cluj’s image both nationally and internationally.

We are pleased to have a dynamic partner by our side, one with a modern vision who believes in the power of sport to inspire and bring people together. Moreover, Don.ro has chosen to offer each season ticket holder this season an official jersey — a gesture of appreciation for the passion and loyalty with which they support us.” — Cristian Balaj, CFR Cluj President.

The partnership between Soft2Bet and CFR Cluj brings together Don.ro’s award-winning online gaming brand and a club with a rich history of success, including eight league titles, four Romanian Cups, and four Super Cups. Both sides are driven by a commitment to high performance, bold ambition, and fresh ideas, which makes this collaboration especially well-aligned.

“We are honored to join the CFR Cluj family, a symbol of excellence in Romanian football. This partnership reflects the shared values that bring us together — performance, responsibility, and respect for the community.

At Don.ro, we are committed to promoting a safe and balanced entertainment environment, and through our collaboration with CFR Cluj, we aim to deliver a strong message about the importance of responsible play, both on and off the field.”  — Marius Mirasovici, Official representative of Don.ro brand

The partnership is designed to deliver real value to Don.ro’s players and the wider local community. With Soft2Bet’s backing, Don.ro will launch a range of activations tailored to Romanian audiences, such as exclusive match-day experiences, localised campaigns, community events, and responsible gaming initiatives, bringing fans closer to the action and rewarding their loyalty in meaningful ways.

Oksana Tsyhankova, Chief Marketing Officer at Soft2Bet, highlighted: “At Soft2Bet, we excel in building powerful and award-winning brands that forge deep connections with players through localised experiences. Don.ro’s partnership with CFR Cluj embodies this vision,combining a top-performing club with our drive for tailored gamified experiences, product excellence, and a passion for performance.”

Launched in 2024 and recognised as “Best Launch of the Year” at the 12th Meeting of Gambling Professionals, Don.ro delivers over 3,484 casino games, a full live-dealer lineup, and a complete sportsbook. The platform runs on Soft2Bet’s proprietary MEGA (Motivational Engineering Gaming Application) technology, which enhances player engagement through mission-based features and in-game challenges.

The post Soft2Bet’s brand Don.ro Becomes Main Sponsor of CFR Cluj in Multi-Year Agreement appeared first on European Gaming Industry News.

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Week 27/2025 slot games releases

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Here are this weeks latest slots releases compiled by European Gaming

PG Soft has served up a classic slot with its Diner Frenzy Spins. This is a 5-reel, 4-rows video slot featuring connecting ways and sticky symbol respins. Diner Frenzy Spins is set within a vibrant, retro-futuristic diner with a buzzy atmosphere thanks to a playful soundtrack. During any spin, the Mystery Respin may be randomly triggered while the reels are spinning.

PG Soft serves up Diner Frenzy Spins

ELA Games calls back to a classic yet luxurious gaming experience with its new title, Juicy Crystal. The game offers a unique and modern twist on the beloved and familiar fruit machine format, featuring timeless symbols and rich visuals. The studio’s trademark attention to detail and quality delivers a game that’s exciting, memorable and elegant.

Juicy Wins, Crystal Clear: ELA Games Releases New Luxury Title

Amusnet presents its newest Online Casino portfolio expansion – a royal-themed slot filled with exciting bonus features. The release adds to the fun of the player-favourite Extra Crown game series, this time with six reels and 100 paylines, top-notch graphics and a vibrant soundtrack. A total of 11 symbols are scattered across the now six reels and 40 fixed paylines, along with some special features that make the gameplay more engaging and fun.

Amusnet Expands an All-Player-Favourite Series with Its Newest Game Release, 100 Extra Crown 6 reels

Play’n GO illuminate their classic Moon Princess universe once more with Moon Princess Stargazing, a grid slot set among icy stars and rising multipliers. Set beyond Neptune in the icy reaches of the Kuiper Belt, Moon Princess Stargazing marks a radiant new chapter in one of Play’n GO’s most celebrated series. Players reunite with Star, Nova and Astra – the celestial trio whose powers help forge constellation connections and unlock sky-high wins.

 

Moon Princess Stargazing expands beloved celestial slot series

Step into the golden sands of Ancient Egypt with Ra’s Relics Bonanza, a thrilling 6×5 cascading slot adventure from Booming Games! Land 8 or more matching symbols anywhere on the reels to secure a win, as winning symbols vanish and new ones tumble down, unlocking endless chances for treasure. Keep an eye on the Divine Scarab, collecting scatter symbols throughout the base game and triggering Free Spins at any moment.

Uncover Ancient Riches in Ra’s Relics Bonanza™ from Booming Games

 

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