ECONOMY

Intralot in $15.5 mln Malaysian contract

Lottery company Intralot said yesterday it won a $15.5 million (12.1-million-euro) contract to provide a lottery system to Malaysian betting firm Magnum Corp Berhad, boosting its presence in Southeast Asia. Intralot said it will install and support a lottery system of 2,200 terminals along with software and telecommunications infrastructure to support the operation of Magnum’s popular games. «This project comes from a country that is economically and technologically advanced within Asia and constitutes one more step in our expansion into the broader Asian market,» Intralot’s CEO Constantinos Antonopoulos said in a statement. Intralot, the world’s third-largest gaming systems operator by revenues, said the eight-year contract includes an option for a two-year extension. The Greek operator, present in 33 countries, has signed a series of contracts in recent years. It clinched IT deals with the state lotteries of Taiwan, the Philippines and the state of Idaho in the USA earlier in the year. Intralot shares trade at 14.47 times its 2006 estimated earnings, compared with a multiple of 20.29 for Gtech Corp, according to Reuters. (Reuters)