Amid a rapid US expansion, Intralot Group has hired Fernando Ors Villarejo to serve as the country subsidiary’s sports betting president. The growth of the market has made Intralot more acutely aware of the potential windfall of claiming a larger share of the industry.
Intralot Group’s US Expansion
Intralot Group’s footprint in the United State can be seen with the naked eye. Through its subsidiary, Intralot Inc, the company is one of the many to pursue expansion in the United States, a market that promises to be the second-largest sports betting hub by 2030. According to another study, issued by Gambling Compliance, the US can actually grow to be the largest market in 2023.
To achieve this, Intralot is consolidating its executive management with the addition of Fernando Ors Villarejo who will be stepping up as president for the region’s sports betting operations. With over 20 years of experience helping business develop international reach and expand digital assets, Mr. Villarejo is well-prepared for the job.
He served as interactive chief executive for Grupo Codere, a Spanish company and developer of iGaming products for a number of high-profile clients, including bet365. Mr. Villarejo’s experience is quite diverse.
He worked in Carrefour and Bernardo Alfageme honing the skills that he would need today at the helm of Intralot. His personal business accomplishments are also quite noteworthy with his private consulting business, Savia Consulting.
Mr. Villarejo has helped digital companies and famous telecoms achieve their stated goals and make financial forecasts hit the mark. It’s this experience and awareness of different businesses that makes him well-poised, Intralot believes, to explore new opportunities in the United States on behalf of the company.
Signing Up New Partnerships
Mr. Villarejo will be working closely with Intralot Group CEO Antonios Kerastaris, with the pair pursuing new opportunities in the burgeoning sports betting market across the United States. While only half of all states are expected to have legalized the activity by 2030, Intralot is determined to pursue as many market options as it can.
With the official press release, announcing the appointment of Mr. Villarejo, Mr. Kerastaris gave his motivation explained his motivation behind the hire and the company’s stronger push in the United States.
Sports Betting in the US in the post PASPA era is a major source of potential future revenue and profits for Intralot and we intend to dedicate considerable amount of effort and resources to turn this opportunity into a great success for our company. – Intralot Group CEO Antonios Kerastaris
While Intralot is eying new markets, this doesn’t mean that the company would start ignoring its old bastions in Europe. In September, the group signed a major deal with the German Hamburg State Lottery, making the fully-owned subsidiary Intralot Global Operations B.V. the sole provider of software for a period of ten years.
Intralot has been preparing to re-focus its efforts on low-risk markets since at least August, 2018 when Mr. Kerastaris spoke about the financial results of the company. Even though EBITDA and revenue jumped 12.1% and 11.4% year-on-year, earnings fell by 2%.
The expansion in the United States is seen as an opportunity to bolster the group’s results, although there will be a lot of associated costs related to licensing and establishing new facilities.