Reports 33.4 percent increase in revenues for the third quarter

Greece-based lottery giant Intralot reported a 33.4 percent increase in revenues for the third quarter to €356.8 million, resulting in a total of €797.7 million for the nine months through September.

EBITDA reached €39 million, slightly below the third quarter of 2009, although the margin was higher. EBITDA for the nine-month period was €109.8 million.

Net profit was down 25.8 percent to €11.7 million for the quarter, mainly due to higher depreciation charges and a higher aggregate tax rate of 19.2 percent versus 16.6 percent in 3Q09, the company said. Net profit for the nine months was €37 million.

“We believe that existing operations have ample room for improvement and expansion, therefore we will focus on new game content and marketing strategies to explore new business opportunities for our clients and our own operations,” said CEO Constantinos Antonopoulos.

“In the near future several opportunities of considerable size are expected to arise in different regions,” he said. “In Europe the regulated opening of the markets has a strong momentum. Many opportunities are expected to arise in the US, where private management contracts or so-called PPP projects (Private Public Partnerships), are expected to emerge."

Intralot operates in more than 50 countries.