Recorded a 2024 Income of $406.9 Million for Intralot, Propelled by Robust Q4 Increases
2024 in Review for Intralot: Expansion, Transformation, and Challenges
Last year, Intralot reported a revenue growth of 3.4%, reaching a total of $406.9 million. The company's impressive Q4 performance, with a staggering 34.3% revenue jump to $122.8 million, played a significant role in this increase. Gross gaming revenue (GGR) also saw a 2% hike, settling at $385.5 million [1].
Lottery games remained the mainstay, generating 54.8% of the earnings, followed closely by sports betting with a 23.1% share. Technology contracts and video lottery terminals accounted for 11.3% and 10.7% of the revenue respectively [1].
Key markets like the United States, Turkey, and Argentina bolstered Intralot's performance, albeit somewhat disrupted by lower contract value in Morocco and implementation fees in Taiwan [1].
Despite the revenue growth, Intralot's financial performance faced challenges. Operational expenses rose 3% to $128.4 million, while gross profit dropped 2.7% to $154.4 million. Adjusted EBITDA inched up by 1%, but EBITDA fell 3.7%. EBIT took a 16.6% hit, pre-tax profit plummeted 46.2%, and net income after tax and minority interest (NIATMI) dipped 16.5% [1].
However, Q4 brought some positive developments. Operating costs declined 7.3%, EBITDA surged 16.7%, and adjusted EBITDA climbed 38%. EBIT saw a 56% boost, pre-tax profit soared 419%, even though NIATMI in Q4 still slipped 49.4% [1].
In a statement, Intralot CEO Sokratis Kokkalis highlighted the company's focus on high-margin activities, emphasizing, "Our performance for 2024 has been positively impacted by very strong performance in the last quarter driven by strong revenue growth from North America, enabling the company to maintain its key metrics in profitability and leverage ratio" [1].
Looking forward to 2025, Intralot is strategically positioning itself for growth in the digital gaming industry. The company aims to expand its presence, strengthen existing partnerships, and invest in technological innovation [2].
Some of the initiatives undertaken include extending their gaming systems contract with the New Hampshire Lottery Commission until 2033, upgrading terminals to enhanced self-service machines like the Gamestation and Dream Touch Flex vending machines [2]. Intralot also plans to leverage its financial strength for investments in key areas such as technology and talent [3].
The company is adapting to the increasing competition from sports betting and iGaming by fostering innovation through initiatives like Intralot Labs, focusing on game development and enhancing customer experiences [3]. While specific details about new expansion plans or additional partnerships in 2025 are not yet fully disclosed, Intralot's commitment to technology and innovation positions it well to remain competitive in the evolving digital gaming landscape [3].
[1] Intralot 2024 Financial Report[2] New Hampshire Lottery Commission Press Release[3] Intralot 2023 Transformation Initiatives[4] IGT and Intralot Collaboration: Modular and Agile Architectures with LotosX Platform[5] Katsubet: Super Whale Bonus & 111% + 111 Free Spins! (Bonus Code "BONUSWHALE")(Promotion may not be available in all regions)
In the context of Intralot's forward-looking strategy for 2025, the company aims to expand its business in the digital gaming industry, invest in technological innovation, and strengthen existing partnerships. In line with this, Intralot is positioning itself to be competitive in the evolving financing landscape, particularly in areas such as technology and talent.
