Intralot, an international gaming solutions and operations provider, saw 15.1 percent revenue growth as it announced its financial results for the six month period ending 30 June, 2017.
Intralot Group CEO Antonios Kerastaris (pictured) said: “Continued double digit revenue growth and profitability improvements are directly linked to reforms implemented in the previous year and more specifically to our M&A and partnership strategy.
“Strong local partnerships offer portfolio diversification, local market knowledge, and an asset light structure in addition to economies of scale and new strong revenue streams.
The firm saw its revenues jump by 17.9 percent compared with the year before to E733.2m.
The boost came mostly from increases sales in Bulgaria and Poland, which together contributed E39.9m in revenues, thanks to the consolidation of Intralot’s acquisition of Eurobet in Bulgaria, and regulatory changes in Poland.
Additionally, E29.8m stemmed from an increase in Jamaica’s top line performance, and the improved performance in Argentina.
However, the firm’s net debt had reached E516.8m, after growing by E21.9m since the end of last year. The company puts this down to the decision to invest in software and its Eurobet acquisition.
Its operating cash-flow generation in line with the previous year at E77.2m.
In the report, the company said it expects to “reap the fruits” of last year’s disposals as part of its “asset-light” strategy and its focus on local partnerships.