INTRALOT: IMPORTANT AGREEMENT WITH EGYPT POSTS
INTRALOT and Egypt Posts signed yesterday an important agreement concerning the development of a modern National Network for the provision of value added services and games organization.
The agreement was signed by the Chairman of Egypt Posts, Dr. Aly El Moselhy and the Chairman of INTRALOT & INTRACOM Groups, Mr. Sokratis Kokkalis, who expressed his faith and commitment in the growing potential of the emerging Egyptian Market, for both Groups.
The signing ceremony was attended by the Egyptian Minister of Communications and Information Technology, Dr. Tarik Mohamed Kamel Mahmoud, who declared: "We welcome INTRALOT Group in Egypt and we believe that this agreement will be for our mutual benefit.”
"This agreement is intended to establish a long-term and mutually advantageous cooperation between INTRALOT Group and Egypt Posts and will contribute to the improvement of Egyptians’ everyday life, by simplifying transactions”, Mr. Constantinos Antonopoulos CEO of INTRALOT commented.
More specifically, the project concerns the development and management of an integrated system with a communications network among all branches of Egypt Posts, to conduct financial transactions, such as payment of utility, taxes and credit card bills, ticket booking, driving registration issuing, etc.
INTRALOT will install the on-line central system, based on LOTOS platform, which will include the management software, the telecommunications network and the terminals, in all Egypt Posts’ branches and related points of sale. Egypt Pots currently have more that 3.400 branches allover the country, while the new company aims at expanding the network by increasing the number of points of sale to 10.000.
Egypt Posts constitute one of the most important institutions in the country, since they combine the postal activity with that of a bank, through Postal Savings organization. They employ 45.000 employees and allocate 12 millions active accounts, which correspond to market share of more than 50% of the Egyptian market.
The initial investment will be €10 million and the project will be implemented and operated by a new Joint Venture Company, in which INTRALOT Egypt participates with a 85% share and Egypt Posts with 15%. The project is expected to begin at the 1st Quarter of 2006.
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 29 countries and revenues of € 328,4 million, INTRALOT’s footprint straddles five continents. The company currently ranks 3rd on revenues and 2nd on profits among lottery suppliers worldwide.