Posting financial results for the nine-month period to September 30, Intralot reported a seven per cent increase in group revenues.

Growth for Intralot

Earnings (EBITDA) in the nine-month period grew moderately by 2.4 per cent (up 16.6 per cent in constant currency).

Third-quarter EBITDA fell by 14.3 per cent (down 1.8 per cent in constant currency), which Intralot attributed to “an approximate €7m shortfall in the parent company.”

Commenting on the results, Intralot Group CEO Antonios Kerastaris said: “Q3 was marked by aggressive organic revenue growth, as a result of the company strategy for launching new products and services and reaping fruits of new projects.

“Recent milestone developments of a successful early refinancing of a €250m bond in September with significantly better terms that lead to cumulative savings of up to €65m savings in debt-servicing costs and extension of maturities to 2021 combined with the collection of US$68.7m in cash from the disposal of 80 per cent of our operation in Peru have drastically improved our financial position and capacity to meet our targets of significantly reduced net debt and improved cash position by the end of 2016.”