RENEWAL OF BETTING LICENSE IN CYPRUS
INTRALOT’s subsidiary in Cyprus, Royal Highgate Public Company Limited, announces that it has received an “A class” betting license, in order to continue to offer retail Betting services in the country, including the selection of sports events, odds compilation and risk management. The duration of the new license is 2 years.
The license was granted according to the new Betting Law, which concerns companies that wish to offer retail betting services in the country.
“Thanks to INTRALOT’s state-of-the-art systems and its global know-how in the betting services, Royal Highgate has become one of the leading gaming companies in Cyprus, the operator of choice for the majority of Cypriot players. Being the first operator to receive the new betting license reiterates our commitment to sustained compliance with the legislative framework of the jurisdictions where we operate and underlines our strategic decision to continue our successful operations in the country”, commented Mr. Vassilis Yakoumis, General Manager of Royal Highgate.
About Royal Highgate
Royal Highgate is INTRALOT’s subsidiary in Cyprus engaged in operating Fixed Odds Betting Games in the island. In the beginning of 2004 INTRALOT has acquired a majority stake in Royal Highgate, a major Betting operator in the Cyprus. In 2005 INTRALOT, in collaboration with its subsidiary “Betting Company”, has launched the provision of full organizational and operational services, including the selection of sports events, odds compilation and the risk management, to ensure the game’s efficient operation and profitability. Royal Highgate has been public listed in the Stock Market of Cyprus since 2001.
INTRALOT, a public listed company, is the leading supplier of integrated gaming and transaction processing systems, innovative game content, sports betting management and interactive gaming services to state-licensed gaming organizations worldwide. Its broad portfolio of products & services, its know-how of Lottery, Betting, Racing & 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 53 countries, with approximately 5.500 people and revenues of €1.2 billion for 2011, INTRALOT has established its presence on all 5 continents.