{"id":249,"date":"2024-06-25T23:04:08","date_gmt":"2024-06-25T20:04:08","guid":{"rendered":"https:\/\/lionslotsnodepositbonus.icu\/2024\/06\/25\/intralot-reports-decline-in-income-but-remains-optimistic-about-future-growth\/"},"modified":"2024-06-25T23:04:08","modified_gmt":"2024-06-25T20:04:08","slug":"intralot-reports-decline-in-income-but-remains-optimistic-about-future-growth","status":"publish","type":"post","link":"https:\/\/lionslotsnodepositbonus.icu\/2024\/06\/25\/intralot-reports-decline-in-income-but-remains-optimistic-about-future-growth\/","title":{"rendered":"Intralot Reports Decline in Income but Remains Optimistic About Future Growth"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/F3JvfCC5xF0\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Although Intralot faced a decrease in income during 2023, the company remains hopeful about future expansion.<\/p>\n<p>Intralot states that while overall annual income dropped, a reduction in net liabilities in 2023 will enable it to pursue substantial business prospects worldwide.<\/p>\n<p>Intralot, despite a 7.3% decrease in income in 2023, maintains a positive outlook on future growth.<\/p>\n<p>Income for the twelve months ending December 31, 2023, was \u20ac364 million (\u00a3311.3 million\/$390.5 million), down 7.3% year-over-year. Intralot attributed this primarily to the termination of its Maltese permit.<\/p>\n<p>Intralot also experienced an increase in expenditures this year. This, coupled with the decline in income, resulted in a drop in net profit, although EBITDA improved year-over-year.<\/p>\n<p>Reflecting on the entire year, Chairman and CEO Sokratis Kokkalis remained generally optimistic. He discussed &#8220;consistent growth&#8221; in operating profitability and mentioned the reduction in debt &#8211; which decreased by 32.1% to \u20ac332 million.<\/p>\n<p>Kokkalis added that the lower debt would allow Intralot to seek new opportunities to support its future growth plans.<\/p>\n<p>&#8220;2023 was a year of consistent growth in operating profitability, robust cash flow, and the attainment of our strategic goals of margin expansion, deleveraging, and debt reduction,&#8221; said Kokkalis. <\/p>\n<p>Intralot experienced a prosperous year in 2023, marked by a successful capital augmentation and debt restructuring program. This strategic maneuver positioned them favorably to seize global opportunities, bolstered by their modernized technological infrastructure.<\/p>\n<p>Nevertheless, their earnings exhibited a decline, primarily attributed to a dip in B2C revenue. This downturn was largely influenced by the forfeiture of their Maltese authorization in July 2022, resulting in a substantial revenue reduction. Additionally, they encountered a revenue dip in Argentina due to economic fluctuations and a significant devaluation of the peso.<\/p>\n<p>While their B2B operations expanded, this growth was insufficient to offset the B2C losses. Their B2B management income surged due to growth in Turkey, Morocco, and the United States. Their core business, technology, and support services, also witnessed a modest revenue uptick. <\/p>\n<p>Intralot revealed that its income growth was propelled by expansion in the Croatian market, while the firm also saw a slight uptick in the U.S. market.<\/p>\n<p>Earnings in other areas also rose by 9.8% due to a new agreement inked with Taiwan&#8217;s lottery in the middle of 2023. However, Intralot also noted a slight dip in revenue in Australia, attributed to unfavorable exchange rates.<\/p>\n<p>The Americas remain Intralot&#8217;s primary market<br \/>\nContinuing with a geographical breakdown, Intralot declared that the Americas remain the main source of its revenue. In 2023, the region generated \u20ac210.3 million in revenue, despite a 10.6% decrease compared to 2022.<\/p>\n<p>Revenue in Europe also dipped by 6.0% in 2023, reaching \u20ac116.1 million. However, revenue from other markets climbed by 30.7% to \u20ac91.4 million, partially offsetting the decline in other regions. Intralot deducted \u20ac53.7 million in intersegment revenue, resulting in a final total of \u20ac364 million.<\/p>\n<p>In terms of gaming categories, lottery games accounted for 53.4% of all total revenue in 2023. Sports betting accounted for 20.5%, video lottery terminals for 11.8%. Another 14.3% came from IT products and services.<\/p>\n<p>Net profit dipped by 7.6%<br \/>\nFrom a cost perspective, operating expenses rose by 14.3% in 2023, reaching \u20ac114.1 million. However, not all was negative on the expenditure side, with costs in other areas declining.<\/p>\n<p>This included depreciation and amortization, which decreased by 3.1% to \u20ac67.9 million, and interest and related expenses, which decreased by 2.9% to \u20ac35.7 million.<\/p>\n<p>As a result, profit before tax was \u20ac33.6 million, down 12%. <\/p>\n<p>Intralots earnings climbed by 8% over the preceding year. Although the organization didn&#8217;t divulge specific tax figures, Intralot stated that net income after taxes and minority interests (NIATMI) decreased by 7.6% to 5.8 million euros.<\/p>\n<p>However, not all the news was bleak. EBITDA expanded by 5.4% to 129.5 million euros, and earnings before interest and taxes (EBIT) rose by 19.3% to 61.6 million euros.<\/p>\n<p>Intralot experienced a downturn in the final quarter.<br \/>\nIntralots performance in the final quarter of the year was subpar. Revenue declined by 7.7% to 84 million euros, primarily due to the instability of the Argentinian economy.<\/p>\n<p>Operational expenses surged by 27.2% to 37.6 million euros, while depreciation and amortization costs increased by 18.8% to 19.4 million euros. However, interest and related expenses decreased slightly to 7.7 million euros.<\/p>\n<p>This indicates that pre-tax profit was 1.4 million euros, a reduction of 86.1% from the same period in the previous year. Specific tax details have not been made public, but Intralot indicated that NIATMI in the fourth quarter decreased by 125.9% to 3.2 million euros.<\/p>\n<p>EBITDA for the quarter also decreased by 18.3% to 28.4 million euros, while EBIT declined by 50.7% to 9.1 million euros.<\/p>\n<p>Looking toward the future<br \/>\nAs the start of 2024 approaches, Intralot has been buoyed by a series of contract announcements in recent weeks with existing partners.<\/p>\n<p>These include a renewal agreement with Magnum Corporation, a Malaysian gaming company. The agreement, reached in March, will extend the partnership for over 17 years. Other recent deals include a renewal agreement with La Marocaine des Jeux et des Sports in Morocco. <\/p>\n<p>These arrangements follow understandings reached in 2023, such as a new sports wagering partnership with the British Columbia Lottery Corporation (BCLC). Kokkalis&#8217;s remarks about seeking &#8220;significant business opportunities&#8221; imply that Intralot may have more agreements in development.<\/p>\n<p>Regarding other actions, Intralot recently finalized the merger of its fully owned subsidiary under the name &#8220;Betting Company Single Member S.A.&#8221;<\/p>\n<p>However, there are inquiries about how the organization reflects accounts receivable in its financial reports. Accounts receivable are a method of recognizing income before a business actually generates it.<\/p>\n<p>When detailing accounts receivable for 2023, Intralot noted that they increased by \u20ac18.5 million compared to \u20ac6.8 million in the prior year. Trade and other short-term accounts receivable were also higher, at \u20ac119.9 million, compared to \u20ac109.9 million in 2022.<\/p>\n<p>Regarding other financing, Intralot addressed its capital concerns by repaying its 5.250% senior notes due in September of this year. This was accomplished by issuing \u20ac130 million in bonds and securing a \u20ac100 million bond loan from a group of five Greek banks.<\/p>\n<p>On the same day as the bond transaction, Kokkalis acquired 400,000 shares of common registered stock and another 420,000 shares the following day. This suggests confidence in the company&#8217;s future.<\/p>\n<p>Sign up for the iGaming newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Although Intralot faced a decrease in income during 2023, the company remains hopeful about future expansion. Intralot states that while overall annual income dropped, a reduction in net liabilities in 2023 will enable it to pursue substantial business prospects worldwide. Intralot, despite a 7.3% decrease in income in 2023, maintains a positive outlook on future [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Intralot Sees Growth Despite 2023 Dip<\/title>\n<meta name=\"description\" content=\"Intralot\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lionslotsnodepositbonus.icu\/2024\/06\/25\/intralot-reports-decline-in-income-but-remains-optimistic-about-future-growth\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Intralot Reports Decline in Income but Remains Optimistic About Future Growth\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Intralot\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/lionslotsnodepositbonus.icu\/2024\/06\/25\/intralot-reports-decline-in-income-but-remains-optimistic-about-future-growth\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Win Big at Our Licensed Online Casino | Latest Games &amp; News\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-25T20:04:08+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/lionslotsnodepositbonus.icu\/2024\/06\/25\/intralot-reports-decline-in-income-but-remains-optimistic-about-future-growth\/\",\"url\":\"https:\/\/lionslotsnodepositbonus.icu\/2024\/06\/25\/intralot-reports-decline-in-income-but-remains-optimistic-about-future-growth\/\",\"name\":\"Intralot Sees Growth Despite 2023 Dip\",\"isPartOf\":{\"@id\":\"https:\/\/lionslotsnodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-25T20:04:08+00:00\",\"dateModified\":\"2024-06-25T20:04:08+00:00\",\"author\":{\"@id\":\"https:\/\/lionslotsnodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Intralot\",\"breadcrumb\":{\"@id\":\"https:\/\/lionslotsnodepositbonus.icu\/2024\/06\/25\/intralot-reports-decline-in-income-but-remains-optimistic-about-future-growth\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/lionslotsnodepositbonus.icu\/2024\/06\/25\/intralot-reports-decline-in-income-but-remains-optimistic-about-future-growth\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/lionslotsnodepositbonus.icu\/2024\/06\/25\/intralot-reports-decline-in-income-but-remains-optimistic-about-future-growth\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/lionslotsnodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Intralot Reports Decline in Income but Remains Optimistic About Future Growth\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/lionslotsnodepositbonus.icu\/#website\",\"url\":\"https:\/\/lionslotsnodepositbonus.icu\/\",\"name\":\"Win Big at Our Licensed Online Casino | Latest Games &amp; News\",\"description\":\"Stay informed with our regularly updated casino news, detailed game reviews, and expert articles. Experience the thrill of licensed online gambling at its finest.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/lionslotsnodepositbonus.icu\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/lionslotsnodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/lionslotsnodepositbonus.icu\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png\",\"contentUrl\":\"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png\",\"caption\":\"admin\"},\"description\":\"This talented writer and mathematician holds a Ph.D. in Applied Mathematics and a Masters in Probability Theory. With a deep understanding of the intricacies of casino games, they have published numerous articles on game theory, probability, and combinatorics in relation to gambling. Their expertise in discrete mathematics and stochastic processes has made them a sought-after consultant for licensed casinos worldwide. Their articles, reviews, and news pieces provide valuable insights into the world of casino gaming.\",\"sameAs\":[\"http:\/\/theworldcasino.vip\"],\"url\":\"https:\/\/lionslotsnodepositbonus.icu\/author\/ezvhu8xt\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Intralot Sees Growth Despite 2023 Dip","description":"Intralot","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/lionslotsnodepositbonus.icu\/2024\/06\/25\/intralot-reports-decline-in-income-but-remains-optimistic-about-future-growth\/","og_locale":"en_GB","og_type":"article","og_title":"Intralot Reports Decline in Income but Remains Optimistic About Future Growth","og_description":"Intralot","og_url":"https:\/\/lionslotsnodepositbonus.icu\/2024\/06\/25\/intralot-reports-decline-in-income-but-remains-optimistic-about-future-growth\/","og_site_name":"Win Big at Our Licensed Online Casino | Latest Games &amp; News","article_published_time":"2024-06-25T20:04:08+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Estimated reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/lionslotsnodepositbonus.icu\/2024\/06\/25\/intralot-reports-decline-in-income-but-remains-optimistic-about-future-growth\/","url":"https:\/\/lionslotsnodepositbonus.icu\/2024\/06\/25\/intralot-reports-decline-in-income-but-remains-optimistic-about-future-growth\/","name":"Intralot Sees Growth Despite 2023 Dip","isPartOf":{"@id":"https:\/\/lionslotsnodepositbonus.icu\/#website"},"datePublished":"2024-06-25T20:04:08+00:00","dateModified":"2024-06-25T20:04:08+00:00","author":{"@id":"https:\/\/lionslotsnodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0"},"description":"Intralot","breadcrumb":{"@id":"https:\/\/lionslotsnodepositbonus.icu\/2024\/06\/25\/intralot-reports-decline-in-income-but-remains-optimistic-about-future-growth\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/lionslotsnodepositbonus.icu\/2024\/06\/25\/intralot-reports-decline-in-income-but-remains-optimistic-about-future-growth\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/lionslotsnodepositbonus.icu\/2024\/06\/25\/intralot-reports-decline-in-income-but-remains-optimistic-about-future-growth\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Homepage","item":"https:\/\/lionslotsnodepositbonus.icu\/"},{"@type":"ListItem","position":2,"name":"Intralot Reports Decline in Income but Remains Optimistic About Future Growth"}]},{"@type":"WebSite","@id":"https:\/\/lionslotsnodepositbonus.icu\/#website","url":"https:\/\/lionslotsnodepositbonus.icu\/","name":"Win Big at Our Licensed Online Casino | Latest Games &amp; News","description":"Stay informed with our regularly updated casino news, detailed game reviews, and expert articles. Experience the thrill of licensed online gambling at its finest.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/lionslotsnodepositbonus.icu\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/lionslotsnodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/lionslotsnodepositbonus.icu\/#\/schema\/person\/image\/","url":"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png","contentUrl":"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png","caption":"admin"},"description":"This talented writer and mathematician holds a Ph.D. in Applied Mathematics and a Masters in Probability Theory. With a deep understanding of the intricacies of casino games, they have published numerous articles on game theory, probability, and combinatorics in relation to gambling. Their expertise in discrete mathematics and stochastic processes has made them a sought-after consultant for licensed casinos worldwide. Their articles, reviews, and news pieces provide valuable insights into the world of casino gaming.","sameAs":["http:\/\/theworldcasino.vip"],"url":"https:\/\/lionslotsnodepositbonus.icu\/author\/ezvhu8xt\/"}]}},"_links":{"self":[{"href":"https:\/\/lionslotsnodepositbonus.icu\/wp-json\/wp\/v2\/posts\/249"}],"collection":[{"href":"https:\/\/lionslotsnodepositbonus.icu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lionslotsnodepositbonus.icu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lionslotsnodepositbonus.icu\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lionslotsnodepositbonus.icu\/wp-json\/wp\/v2\/comments?post=249"}],"version-history":[{"count":0,"href":"https:\/\/lionslotsnodepositbonus.icu\/wp-json\/wp\/v2\/posts\/249\/revisions"}],"wp:attachment":[{"href":"https:\/\/lionslotsnodepositbonus.icu\/wp-json\/wp\/v2\/media?parent=249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lionslotsnodepositbonus.icu\/wp-json\/wp\/v2\/categories?post=249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lionslotsnodepositbonus.icu\/wp-json\/wp\/v2\/tags?post=249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}