In 2024, Intralot reported $406.9 million in total revenue, a 3.4% rise from the previous year. A robust Q4 in which revenue jumped 34.3% to $122.8 million was a major factor in the company’s expansion. At $385.5 million, gross gaming revenue (GGR) increased by 2% as well.
With lottery games accounting for 54.8% of total earnings, they continued to be the company’s main source of income. With a 23.1% share, sports betting came in second, followed by technology contracts with an 11.3% share and video lottery terminals with a 10.7% share.
The performance of Intralot was significantly influenced by important markets, such as the United States, Turkey, and Argentina. These gains were somewhat offset, though, by lower contract value in Morocco and implementation fees in Taiwan.
Financial Challenges and Bottom-Line Declines
Even with the increase in sales, Intralot’s financial performance was problematic. Total operational expenditures rose 3% to $128.4 million, while gross profit fell 2.7% to $154.4 million. While adjusted EBITDA increased by a meager 1% to $142.6 million, EBITDA decreased by 3.7% to $136.2 million.
EBIT fell 16.6% to $55.9 million after depreciation and amortization. Pre-tax profit, on the other hand, fell 46.2% to $19.6 million. With a 16.5% decrease, net income after tax and minority interest (NIATMI) ended the year at $5.3 million.
Although the overall year had mixed results, Q4 brought positive developments. Operating costs dropped by 7.3%, and EBITDA rose 16.7% to $36.2 million. Adjusted EBITDA increased 38% to $42.9 million, and EBIT jumped 56% to $15.5 million. Pre-tax profit soared 419% to $8.2 million, though NIATMI in Q4 still declined 49.4% to $1.8 million.
Intralot CEO Sokratis Kokkalis emphasized the company’s focus on high-margin activities, stating, “Our performance for 2024 has been positively impacted by very strong performance in the last quarter driven by strong revenue growth from North America, enabling the company to maintain its key metrics in profitability and leverage ratio.”
Looking ahead to 2025, Intralot plans to expand its footprint in digital gaming, strengthen strategic partnerships, and invest in technological innovation. “With a strong presence in key international markets and a continuous focus on digital transformation, we are well-equipped to seize new opportunities in the evolving gaming industry,” the company stated in its earnings report.
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