INTRALOT: ACQUISITION OF BETTING COMPANY IN POLAND
INTRALOT, through its subsidiaries POLLOT and INTRALOT INTERNATIONAL, obtained the control of Totolotek, a company that manages and operates Fixed-Odds Sports Betting in Poland.
In the liberalized Polish Betting market of €150 mil. per annum sales, three (3) Betting companies operate with equal market shares (approximately 33% each). Totolotek has a network of about 400 agencies. Half of them are owned by the company and the rest are managed by agents.
The acquisition price was €3.4 mil. and will be paid in three (3) annual installments. In the first quarter of 2005 the sales of the company amounted to €10.2 mil. and its earnings before taxes were €350 thousand.
The company is in a growth stage since the Polish market, with a population of 40 mil. people and low per capita spending in Betting games, has significant growth potential. Moreover, the acquisition of a dynamic network of agencies in the country is a very important factor for INTRALOT’s penetration in the Polish Betting market. INTRALOT will gradually expand the sales network of Totolotek and upgrade its betting operation technological infrastructure. Coupled with INTRALOT’s know-how, the above mentioned improvements are expected to provide Totolotek with all the necessary requirements in order to play a major role in the Polish Betting market and other games.
Commenting on the acquisition, INTRALOT’s CEO, Mr Constantinos Antonopoulos, noted: “This acquisition aims to strengthen INTRALOT’s presence in the global marketplace. Polish market is a very prominent one and INTRALOT will contribute in its further development and the expansion of fixed odd betting games”.
INTRALOT, a public company listed on the ASE, is a leading supplier of integrated gaming and transaction processing systems, innovative game content and value added services to state-licensed gaming organizations worldwide. With 31 subsidiaries, 7 business offices and 1,500 people in 28 countries and revenues of € 325,8 million, INTRALOT’s footprint straddles five continents. The company currently ranks 3rd on revenues and 2nd on profits among lottery suppliers worldwide.