Intralot signs seven-year agreement with Magnum Corporation
This comes after Magnum Corporation issued an international call for tenders in 2022. The new agreement can be extended for two five-year periods, bringing the total agreement period to 17 years.
As part of the deal, Intralot will aid the transition of Magnum Corporation’s retail offering to Intralot’s LotosX Omni ecosystem. LotosX Omni comprises of multiple player and operational systems. These include the LotosX Central Gaming System and the PlayerX Player Account Management System.
Transitioning to LotosX Omni will allow Magnum Corporation to offer an omnichannel strategy across its retail and digital offerings.
Dato’ Lawrence Lim Swee Lin, CEO of Magnum Corporation, said the continued partnership with Intralot would result in an improved gaming experience.
“Magnum Corporation is proud to continue this partnership with Intralot, a steadfast ally in helping us grow our business and to innovate the gaming experience for our customers,” he said.
“With our industry expertise and Intralot’s cutting-edge technology, we are crafting a future of innovation together, creating a more immersive gaming experience with enhanced levels of personalisation and security, both in our retail and digital spaces.”
Ongoing partnership
Marios Mitromaras, CEO of Intralot Australia, said Intralot’s technology would continue to enhance Magnum Corporation’s gaming offerings for players.
“We are very pleased to keep working with Magnum Corporation,” he said. “Our continued collaboration is a partnership built on trust, understanding and a shared commitment in elevating gaming excellence for their customers.”
“We look forward to deploying our cutting-edge technology and high-quality operating services as Magnum Corporation continues to push boundaries and take steps to modernise their player experience.”
The news comes after Intralot made a number of major moves in 2023. In June, it agreed to a deal to supply system technology to Taiwan’s Public Welfare Lottery. It also penned a sports betting deal with the British Columbia Lottery Corporation (BCLC).
In terms of its finances, Intralot reported faltering revenue for the first six months of 2023. It slipped 2.9% year-on-year to €163.6m – however, EBITDA grew 14.0% to €62.8m.
In November, subsidiary Intralot Capital Luxembourg confirmed it would go ahead with a partial redemption of senior notes totalling €126.0m. During the same month, Intralot confirmed that it would issue €135m in new shares.