INTRALOT to Supply Solutions to Taiwan’s Public Welfare Lottery

INTRALOT, a Greek gambling supplier, has announced that it will supply gaming solutions to the Public Welfare Lottery in Taiwan. This is an effective extension of INTRALOT’s existing agreement with CTBC Bank, which will operate the lottery.

INTRALOT’s announcement comes after LotRich Information, a venture in which INTRALOT is a major shareholder, secured an international competitive tender by CTBC Bank. Under the 10-year contract, LotRich will serve as the lottery system technology provider of CTBC Bank and the Public Welfare Lottery.

Under the current agreement, INTRALOT will power CTBC Bank and its Taiwan Lottery subsidiary with platform solutions and systems. As outlined by the supplier, the Taiwanese company will receive access to INTRALOT’s LotosX Gaming Platform, including IGMS Instant Games Management System, RetailerX Retailer Management System and Canvas Signage Content Management System.

In addition, 5,500 PhotonX terminals will be installed in many retail shops across Taiwan. Finally, INTRALOT will provide all the necessary maintenance and support services for the machines, ensuring the smooth operation of the Public Welfare Lottery.

INTRALOT has been working together with CTBC Bank since 2007 when the latter company obtained its first license to issue and operate the lottery.

INTRALOT’s Business Continues to Evolve Despite the Setbacks

In April, INTRALOT published its FY 2022 results, showing a decrease in its revenues. While the positive annual and quarterly EBITDA attested to the efficiency of the provider’s overall strategy, INTRALOT still braced for some challenging times in 2023.

As the company predicted, its Q1 results declined, with revenues dropping by 8.4% year-on-year. However, the company still managed to record a staggering increase of 115.3% in terms of operating cash flow. As a result, group cash for the end of Q1 2023 increased from Q4 2022.

Meanwhile, INTRALOT broke ground in the United States where its business is enjoying steady growth. The latest trading update shows that the company’s US operations have seen an EBITDA increase of a whopping 31.6%. Revenues from the region rose 13.1% for the first quarter of the year.

Speaking of INTRALOT’s expansion in the region, the company recently appointed a new CCO for North America. The one up to the task was the experienced Richard Bateson who will work directly under CEO Nikolakopoulos Nikos.

In March, INTRALOT welcomed Konstantinos Farris as its new group chief technology officer. Farris also replaced Fotis Konstantellos as a member of the company board and deputy CEO.