Intralot noted business uplifts in Turkey and Argentina helped steer its overall 10.9 per cent year-on-year increase in Q1 revenue.
The international gaming solutions and operations provider said its management contracts division reported a 22.8 per cent revenue jump, triggered by 61 per cent local growth of the online sports betting market in Turkey.
Revenues in Intralot’s Licensed Operations (B2C) business unit rose by 64.8 per cent, or €4.1m, due to “improving macroeconomic conditions” that are “supporting market growth.”
Intralot added that Technology and Support Services revenues climbed 1.6 per cent due to strong performance in Argentina, upward sales trajectory in Croatia and organic growth in Oceania.
However, performance in the US was impacted by lower activity of multi-state jackpots.
Overall, Intralot’s revenue climbed almost 11 per cent to €94.4m in Q1, up from €85.1m in Q1 2024.
Gross gaming revenue increased 8.3 per cent to €88.5m, while adjusted EBITDA climbed 0.3 per cent to €30.2m.
Intralot chairman Sokratis P. Kokkalis said: “Intralot’s results are characterised by revenue growth and free cash flow generation combined with stable profitability and continuing debt reduction, resulting in net debt leverage ratio of 2.4x.
“On the commercial front the company renewed key contracts in New Zealand through 2032 and New Hampshire through 2033, with the latter becoming the first US State to install our new central lottery platform Lotos X with its advanced functionalities.”
Lottery, at 55.2 per cent of revenue, remained Intralot’s biggest growth driver ahead of sports betting, which accounted for a quarter of Q1 revenue.
