Lottery operator Intralot has revealed its financial report for the full financial year 2020 and showed the pandemic’s adverse effects on its business.
Press release.- Greek lottery operator Intralot has finally revealed its report for the financial year 2020, a tough one due to the Covid-19 pandemic.
The company reported its overall turnover generated for the period was just €364.8 million, 16.6 per cent less than the previous year.
While turnover generated from Europe and the Americas increased – 56.2 percent to €30.3 million and 11 per cent to €29.3 million, respectively, turnover from other countries dropped by 45.2 per cent to €34.7 million.
Lottery games amounted to 60.6 per cent of the overall turnover, totaling €221.1 million. IT products and services contributed €59.5 million and sports betting €54.0 million.
Gross gaming revenue (GGR) from continuing operations for FY20 totaled €292.9 million, posting a decrease of 14 per cent year on year.
Moreover, EBITDA reached €66.2 million, while Adjusted EBITDA totalled €55.8 million.
Intralot chairman and CEO Sokratis P. Kokkalis said: “During the financial year 2020 we faced the adverse effects and disruptions of the COVID-19 pandemic, which had significant impact on the Lottery and Sports Betting industries. This impact was only partially offset by mitigation measures, operational improvements, and cost-containment efforts.
“We remained focused on developed markets seeing significant growth in the US in the Lottery operations and we launched two new Sports Betting operations in Montana and Washington D.C., while we renewed significant contracts in Georgia, US as well as New Zealand, Australia and The Netherlands.
“The Company management also dedicated significant effort in negotiations with the bondholders to optimize the Capital Structure through a transaction that is expected to be completed during the first half of 2021.”