INTRALOT Group announces that its subsidiary in Turkey, INTELTEK, received authorization from the responsible authorities in Azerbaijan, to organize, operate, manage, and develop fixed-odds and pari-mutuel sports betting games, including the provision of related services, in Azerbaijan.
INTELTEK will own 51% of the newly established company, named Azerinteltek, which will be based in Azerbaijan. Azerinteltek will operate sports betting on an exclusive basis in more than 1.000 points of sale countrywide for a period of 10 years.
“In the context of evaluating investment opportunities in various countries of the wider region, we decided to enter the promising market of Azerbaijan together with our respectable partner Turkcell, through our joint venture, INTELTEK, which has created strong values and competences in the gaming sector and a clear expansion strategy outside Turkey”, said Mr. Constantinos Antonopoulos, CEO of INTRALOT Group. “We are confident that we will manage to make sports betting an exciting experience for the people of Azerbaijan and create a successful operation, similar to the one we have established in Turkey”.
Azerbaijan is a country in the Caucasus region of Eurasia at the crossroads between Eastern Europe and Western Asia, with a total population of 9 million people and a GDP per capita of US$ 9,900. Azerbaijan experienced high economic growth during 2006-08, due to large and increasing oil exports, as well as to considerable growth in non-export sectors, such as construction, banking, and real estate.
INTRALOT, a public listed company, is the leading supplier of integrated gaming and transaction processing systems, innovative game content and sports betting management, to state-licensed gaming organizations worldwide. Its broad portfolio of products & services, its know-how of Lottery, Betting & Video Lottery operations and its leading-edge technology, give INTRALOT a competitive advantage which contributes directly to customers’ efficiency, profitability and growth. With presence in more than 50 countries, with 5,000 people and revenues of €1.1 billion for 2008, INTRALOT has established its presence on all 5 continents.