PRESS RELEASE (ANNUAL GENERAL SHAREHOLDERS MEETING): BUILDING LONG TERM VALUE THROUGH INVESTMENTS
Annual General Shareholders Meeting
BUILDING LONG TERM VALUE THROUGH INVESTMENTS
16 May 2018
The Annual General Shareholder meeting of INTRALOT took place on May 16, 2018 at the company Innovation Center in Athens with a presentation of the Strategy, major Developments, and the Financial Results of the previous year.
During the meeting, the Group CEO Mr. Antonios Kerastaris presented the main strategy pillars. More specifically:
- Developments in the geographic refocus and investments to shift the client mix towards developed markets such as the United States, where INTRALOT, in addition to renewing 5 major contracts with State Lotteries last year, was awarded the entire technology support contract by Camelot for the Illinois State Lottery for the next 10 years. Special mention was made to the recent developments around the US Supreme Court decision on May 14, 2018 to strike down the sports betting federal ban, opening up the prospects of potential market of more than usd 20bn in GGR.
- The investment in an entire new generation of products enabling Lottery digital transformation, including the new lottery central system solution and the new betting platform, based on a holistic approach the involves cross-platform and cross-vertical infrastructure facilitating fast go-to-market and reducing total cost of ownership for the operators, creating tremendous competitive advantages for INTRALOTs product portfolio offering.
- Investments in a robust financial structure resulting in reduction of the average bond interest rates, the extension of the average maturity periods, and full repayments of the syndicated loan facilities to the Greek banking system.
The Shareholders approved the financial results and renewed the own stock repurchase program between a lowest price of €0,30 and a highest price of € 12 for up to 10% of the company stock.
INTRALOT, a public listed company established in 1992, is a leading gaming solutions supplier and operator active in 52 regulated jurisdictions around the globe. With €1.1 billion turnover and a global workforce of approximately 5,100 employees (3,100 of which in subsidiaries and 2,000 in associates) in 2017, INTRALOT is an innovation – driven corporation focusing its product development on the customer experience. The company is uniquely positioned to offer to lottery and gaming organizations across geographies market-tested solutions and retail operational expertise. Through the use of a dynamic and omni-channel approach, INTRALOT offers an integrated portfolio of best-in-class gaming systems and product solutions & services addressing all gaming verticals (Lottery, Betting, Interactive, VLT). Players can enjoy a seamless and personalized experience through exciting games and premium content across multiple delivery channels, both retail and interactive. INTRALOT has been awarded with the prestigious WLA Responsible Gaming Framework Certification by the World Lottery Association (WLA) for its global lottery operations.