Intralot reports 52% revenue decline
Intralot has reported 52.1% decline in revenue to €266.1 million during the first nine months, with EBITDA at €45.2 million and Adjusted EBITDA at €40.4m
Intralot US achieved significant year-over-year growth, with revenue growth of 13%, and EBITDA up 49.2%.
Strong commercial performance in the US, in combination with Opex reductions worldwide and postponement of Capex, have limited the expected COVID-19 impact of Full Year EBITDA in the area of €25-28m.
The reopening of the Australian market and the smoother operations in sports betting activities create a more positive picture for 4Q20.
The third quarter saw the business continue to struggle from the loss of the Inteltek sports betting contract in Turkey and the loss of its Bulgarian licence. While this was partially offset by a one-off equipment and services sale in the Netherlands, and an improved US performance, revenue for the three months to 30 September was down 44.9% year-on-year at €97.8 million ($118.6M).