Intralot Integrated Lottery Systems and Services SA
ATHEX:INLOT
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Intralot Integrated Lottery Systems and Services SA
ATHEX:INLOT
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Keppel REIT
SGX:K71U
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SG |
Intralot Integrated Lottery Systems and Services SA
INTRALOT SA engages in the supply of gaming and transaction processing systems. The company is headquartered in Athina, Attiki and currently employs 1,673 full-time employees. The firm's integrated systems include numerical, video and sport lotteries, as well as fixed odds betting, pari-mutuel wagering and instant lottery games. Its product range includes lottery operating systems like LOTOS, which is a software application platform; information display systems that offer real time information on the progress and outcome of gaming events; video lottery systems that control and monitor services for managing networks of video lottery terminals; the CORONIS line of terminals that can support lottery and video gaming sessions, as well as payment methods and mobile terminals for agents. The firm is also engaged in offering a range of marketing services including support and marketing campaigns for various lottery games.
INTRALOT SA engages in the supply of gaming and transaction processing systems. The company is headquartered in Athina, Attiki and currently employs 1,673 full-time employees. The firm's integrated systems include numerical, video and sport lotteries, as well as fixed odds betting, pari-mutuel wagering and instant lottery games. Its product range includes lottery operating systems like LOTOS, which is a software application platform; information display systems that offer real time information on the progress and outcome of gaming events; video lottery systems that control and monitor services for managing networks of video lottery terminals; the CORONIS line of terminals that can support lottery and video gaming sessions, as well as payment methods and mobile terminals for agents. The firm is also engaged in offering a range of marketing services including support and marketing campaigns for various lottery games.
Strong Q3 Margins: Bally's International Interactive reported Q3 revenue of EUR 548 million with a 43% EBITDA margin, in line with guidance.
Pro Forma Guidance Intact: Combined full-year 2025 pro forma revenue and EBITDA expected to exceed EUR 1 billion and EUR 435 million, respectively, with an EBITDA margin above 40%.
UK Tax Headwind: The UK government raised remote gaming duty from 21% to 40% starting April 2026, which will reduce combined EBITDA by 4% versus prior 2025 guidance and delay growth plans by one year.
Mitigation Actions: Management outlined aggressive cost-cutting, marketing reductions, and synergy plans to offset the UK tax impact, targeting GBP 50 million in mitigations and expecting further growth and synergies.
Conservative Outlook: 2026–27 guidance is cautious, with no new contract wins included, but management expects upside from new projects and organic growth.
Shareholder Actions: Bally’s Corporation plans to increase its stake in Intralot, and a share buyback program will be proposed for approval.
CapEx Spikes: Maintenance CapEx is EUR 60 million annually, with exceptional investments of EUR 50–80 million planned in 2026–27 for project renewals and launches.
