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Intralot 26.5 percent decline posted
Written On 3/31/11 By Lenny Wasman :
Greek land and internet gambling supplier Intralot has posted serious declines in its 2010 numbers, reporting that net profit dropped 26.5 percent, mainly through by write-downs.
Net profit dropped to Euros 36.6 million (2009: $51.47 million), burdened by write-downs and provisions of Euro 5 million, although the latter was considerably less than that experienced in 2009, when there were charges of Euro 18.5 million.
Intralot offers gaming platforms and operates sports betting and video lotto machines for online poker sites and casinos in about 50 countries. Its domestic business in Greece includes the state-majority held monopoly operator OPAP.
Management comments that it is currently giving consideration to moving away from non-performing operations internationally in order to cut costs and rebalance the business.
"Over the past five years Intralot has invested more than Euro 600 million in new opportunities and projects," chief executive Constantinos Antonopoulos said in a statement, adding that from now on the group will focus on delivering value to investors by streamlining operations and improved efficiency.
Group sales rose 23.5 percent to Euro 1.1 billion, at the high end of market expectations, boosted by the acquisition earlier in the year of a strategic stake in a Jamaican lottery operator and new operations in the United States and Italy.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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