INTRALOT chief executive Antonios Kerastaris has highlighted partnerships with local operators in international markets and developing an omni-channel product range as key drivers of the Greek lottery solutions provider's future growth.
In his address to INTRALOT's shareholders at the company's Annual General Meeting, Kerastaris explained that the global gaming market is expected to become a €500bn sector by 2019, with new market openings and privatisations, new regulatory frameworks and demand for a personalised experience across all channels serving as areas of key focus for the company.
"INTRALOT will exploit these opportunities with a best-of-breed portfolio of products and services addressing modern consumer trends that enhance the customer’s experience and an M&A strategy, aiming at growing our business through local partnerships," he said.
This international expansion strategy is already underway, with the company agreeing to merge its Italian operations with those of Gamenet Group; acquiring a stake in Bulgaria's Eurobet and selling a stake in its INTRALOT de Peru subsidiary to Peruvian business Nexus Group.
In Italy and Peru the company retains a 20 per cent stake in the local businesses, while in Bulgaria it is to acquire a 49 per cent stake in Eurobet, the country's main keno, scratchcard and lottery operator. It will also retain a 49 per cent holding in the country's main sports betting operator Eurofootball.
INTRALOT is also launching a new content roadmap through which it plans to launch innovative products and services across all content verticals, supporting this with additional acquisitions.
This is intended to help secure sustainable EBITDA growth, solid cash flow generation and rapidly reduce the company's net debt to EBITDA ratio.
Its 2015 and Q1 2016 financial results already show that revenue and net debt are stabilising, while EBITDA and EBITDA margin are growing on a like-for-like basis, despite recent foreign exchange headwinds in certain markets.