Intralot, a global provider of sports betting and lottery products and technology, has announced it has entered into a binding agreement with Saga to offload its stake in Intralot do Brazil.
Exposure to landing in Brazil
Intralot Revealed Saga agreed to a total cash compensation of the amount € 700,000 for 80% Greek company's stake in business in Brazil. Saga is the only one shareholder of Intralot to Brazil with the remainder 20% .
After closing the transaction, provided that certain customary conditions that are standard for this type of transaction are met, Intralot do Brazil will continue to operate with Intralot gaming technology.
Sale of the 80% stake in Intralot to Intralot is not expected to have a significant impact on Intralot's financial performance as this activity was 0,5% groups profit before interest, tax, depreciation (EBITDA) in 2020 .
Intralot concluded its official press release by stating it will provide further announcements when the deal is finalized in line with regulatory requirements.
Brazil is one of many destinations in the world Greek operator Intralot has set up a p resence, and the decision to ease the burden on the business means the group will focus its efforts elsewhere.
Expanding the presence in the USA
At the beginning of the year, Intralot secured its presence on the domestic market by extending its contract with the Greek lottery operator OPAP SA. The extension was due to OPAP activating the existing 2-year extension clause with the technology service provider to keep Intralot as the main provider of numerical lottery systems for the next 2 years starting from August 2021 .
In the United States, Intralot has a significant presence in several jurisdictions, including Georgia, Montana, Washington, and others.
In October last year, the provider of technology, products and services in the field of sports betting and lottery extended its existing cooperation with Georgia Lottery Corporation, which includes advanced services related to COAM (coin operated amusement machines) from Intralot down 2029 .
Intralot and Lottery in Partnership 2014, when Georgia Lottery Corporation awarded a technology vendor a contract for the iGEM Central Monitoring and Accounting System and related products and services, runni ng 2015 and is expected to end by the end of 2022.
Also in October 2020, Intralot reassured its role in the emerging US sports betting market by forming an alliance with Simplebet to leverage the Montana and Washington DC micro-betting solution for Major League Baseball , National Basketball Association and National Football League , and after successfully launching Micro-Markets in both NFL Playoffs, the pair recently introduced micro-betting products for NBA and MLB games.
Intralot is also a provider of sports betting technology in Montana, operating betting terminals Montana Sports Betting installed in various licensed locations across the state.