The Intralot-MDJS partnership is set to continue until December 2025. Under this agreement, Intralot will maintain its role in operating MDJS’s lottery services while also offering sports betting and various other games of chance.
This collaboration between Intralot and MDJS has deep roots, dating back to 2010 when Intralot first powered MDJS’s offerings.
The scope of Intralot’s responsibilities encompasses running MDJS’s lottery games, which include popular titles like Tifo and Chrono.
In March 2021, Intralot had initially announced plans to shorten an eight-year deal signed in 2019 with MDJS, aiming for it to conclude in December 2022.
However, despite MDJS initiating a tender process in January 2022 to seek a new supplier, an additional one-year extension with Intralot was agreed upon in March 2022.
This recent extension, announced on a Friday, reflects the enduring partnership between these two entities.
In November 2023, Intralot reported a return to net profit for the third quarter, with a 2.2% year-on-year increase in gross gaming revenue (GGR), reaching €5.6 million (£4.8 million/$6.1 million).
Nevertheless, Intralot also revealed a substantial 7.2% decrease in consolidated turnover compared to 2022, largely attributable to the loss of revenue resulting from the expiration of its Malta license in July 2022, amounting to a GGR loss of €43.9 million.
Consequently, the company’s Q3 earnings report underscored the potential risk of failing to meet its 2024 bond obligations.
In response, Intralot issued €135 million in new shares, as the Q3 report indicated that the company lacked the financial resources to cover a significant portion of its debt.
Despite the year-on-year decline in net consolidated turnover, Intralot’s Q3 revenue saw an impressive 8.1% increase compared to the same period the previous year, with an additional €7.8 million surge in Q2 2023.
The EBITDA also experienced significant growth, reaching €101.0 million for the first nine months of the year, marking a 14.7% increase compared to the same period in 2022.
Intralot attributed this rise in EBITDA to the promising growth it witnessed in various markets, including Turkey, Croatia, Taiwan, and the United States.