INTRALOT UNDERTAKES THE OPERATION OF MOSCOW OLYMPIC LOTTERY
INTRALOT announced yesterday that has entered an agreement to undertake the operation of on-line lottery games in Moscow in cooperation with the Malaysian group Tanjong (owner of Pan-Malaysian Pools). The two companies will assume the management of the project and will participate with 49% in Yuvenga, the company that has the exclusive license for on-line lottery games of the “Moscow Olympic Lottery” in the broader area of Moscow.
The investment will be equally undertaken by INTRALOT and Tanjong, and will include the provision of INTRALOT’s integrated on-line system. The business plan provides for the gradual installation of Coronis terminals in 3,000 points of sale, as well as the installation of the LOTOS software platform for the operation of numerical games, KENO, Bingo and instant games. INTRALOT and Tanjong will be remunerated on a percentage of games sales for the technology and related services provision.
The remaining 51% of the company that operates Moscow’s Olympic Lottery consists of important Russian businessmen with activities in the industry of high technology and aircraft manufacturing.
Mr Constantinos Antonopoulos, CEO of INTRALOT stated: “We are excited about our participation in the Moscow Olympic Lottery, which is in line with our business strategy to pursue growth by expanding our global reach through new agreements. We are confident about the success of the project, considering that Tanjong and INTRALOT have joined their core competences in order to deliver successfully such an important project”.
The operating license for the Moscow Olympic Lottery was awarded by the Government of Moscow and expires in 2013. The project is expected to commence in the second semester of 2005. The beneficiaries of the Moscow Olympic Lottery are the Russian Olympic Committee and the Municipality of Moscow. The amounts raised will be allocated to social services in the city of Moscow and to the financial support of sports.
INTRALOT, a public listed company on ASE, is a leading supplier of integrated gaming and transaction processing systems, innovative game designs and value added services to state-licensed gaming organizations and financial services providers worldwide. With 29 subsidiaries, 7 business offices and 1,500 people in 26 countries and revenues of € 320 million, the company dominates in Europe, has secured a strong position in South America and has established a foothold in North America, while expanding its presence in S.E. Asia and Australia. Following a highly successful period of rapid growth, INTRALOT currently ranks 3rd on revenues and 2nd on profits among lottery suppliers worldwide.