The deal was brokered between LotRich Information, a Taiwanese joint venture in which Intralot is a major shareholder, and CTBC Bank, which was awarded the licence by the Taiwanese government to operate the lottery.
The agreement will run for 10 years and extend a relationship between Intralot and CTBC Bank that dates back to 2007.
Intralot will provide CTBC Bank and its Taiwan Lottery subsidiary lottery operator with the LotosX gaming platform. This includes the IGMS instant games management system, RetailerX retailer management system and Canvas signage content management system.
The deal also covers 5,500 PhotonX terminals being installed in retailer locations across Taiwan, in addition to maintenance and support services.
Recovery from Covid-19
The new agreement comes after Intralot last month announced a 29.2% year-on-year rise in EBITDA in the first quarter, as it continued its recovery from the pandemic.
Intralot outlined its progress in Q1 on a number of objectives including the return to profitability, continuing earnings growth and a reduction in the business debt to EBITDA ratio to 3.6x. The company took on significant debt over the course of the Covid-19 pandemic.
The business put the EBITDA growth down to “strong growth” in its US operations, as well as an improved performance in Turkey.