Lottery

Intralot to sell entire stake in Intralot de Peru

1 minute read
Greek lottery solutions giant Intralot has reached a binding agreement with private equity firm Nexus Group in Peru, to sell its entire 20% stake in Intralot de Peru SA for a cash consideration of $21m (£15.2m/€17.4m).

The Intralot group has, however, signed a three-year extension of its current contract with Intralot de Peru SA until 2024, to continue providing its gaming technology and support services.

Closing of the transaction is subject to the completion of certain condition precedents, standard for this type of transaction.

The company will follow up with further announcements on the definite shares transfer and possible timing of cash inflow as is required by regulation.

The news follows the extension of several of Intralot’s existing contracts throughout 2020 and 2021.

In January, the supplier extended its contract with Lotterywest, the state lottery of Western Australia, from January 2022 until January 2026.

It went on to extend the provision of its lottery services to Greece’s lottery monopoly OPAP until 2023, and was one of the first companies to receive a Buenos Aires provincial igaming licence in partnership with local operator Binbaires at the start of 2021.

Results published in December showed that Intralot’s revenue for Q3 2020 was down 44.9% year-on-year at €97.8m (£88.9m/$118.6m).

For the nine months to 30 September, revenue was down 52.1% at €266.1m. The figure can be divided into €153.9m from technology sales, down 2.5%, with B2C revenue down 73.0%. Game management revenue, meanwhile, was down 64.6% at €20.6m.

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