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Profits decline at Intralot, objects to Lotteries proposal | 07th December 2012 : WorldCasinoYellowPages

Profits decline at Intralot, objects to Lotteries proposal; Expansion of New Zealand Lotto contract by Gtech

... 07 December 2012

Profits decline at Intralot, objects to Lotteries proposal; Expansion of New Zealand Lotto contract by Gtech

The profit returns for the third quarter of the year witnessed a rise of 16% to €313.6m at game and lottery provider named Intralot of Greece. However, due to adverse sports gambling outcomes, increasing rate of interest and losses in foreign exchange resulted in a downward trend of 9.9% to €35.6m. There was a decline in the net profits of the company which came down from €6.8m in the third quarter of 2011 to only €209k in the current year. During the first nine months of 2012, there was an increase of 16.9% to €1b and 4.3% to €117m in the profit returns and earnings respectively of the Intralot. There was also an increase in the net obligations of the company which went up to €402.5m. As far as future is concerned, the company hopes for an increase in the profits attributed by the three ventures. These developments will supply towards the foundation of two video lottery terminal observing ventures in Ohio and Victoria, the state of Australia and the mutual German sports betting project with Scientific Games.

There is one venture named South Australian Lotteries agreement which is not going to donate towards base of Intralot and was granted to the opponent named Tatts Group during the start of the current week. However, Tony Sheehan, the director and ex-Victorian Labor treasurer is unsure about the impartiality of the assortment procedure. Sheehan stated that Intralot has shown its stern concern about acquisition of the deal during one assembly with Investec. The latter is the banking/management group appointed by the government to keep an eye on the sale. However, following the assembly, nobody contacted Intralot again. Investec is the company which managed the sale of Tote Tasmania to Tatts during past December.

A written note was sent to Jack Snelling, the SA Treasurer by the Sheehan that Tatts could have bagged the deal for 40 years even without having to go through an official tender procedure. An identical note was sent by Sheehan in September in which he asked for certainty that Intralot will get an opportunity to propose on the deal. To this note, Snelling replied in open and sharp taunting words that the terrible transactions of Intralot with Victorian lottery negotiators implies that they were by  no means going to be thought over for the SA Lotteries deal. The grant of the deal was also objected to by the Australian Newsagent Federation. They are worried that now Tatts Lotteries will have benefit in seven jurisdictions of Australia.

In New Zealand, the Gtech Global Services Corporation, the subordinate of Lottomatica has expanded its association with the New Zealand Lotteries Commission. The NZ Lotteries are being supplied by Gtech right from 1987 onwards. With the extension of the deal, the association will now last up to 30th June, 2020 with a choice for two-year expansion. According to the fresh contract, 1,800 fresh Altura GT1200 terminals will be set up by Gtech paving the way for probabilities for fresh facilities and games.

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