Intralot Q1 profit surges

Lottery systems supplier Intralot reported a higher-than-expected first-quarter net profit rise due to a hefty lottery deal and was confident growth would continue in the year on the back of new contracts. The world’s second-largest lottery systems supplier in terms of sales said yesterday net profit rose 42 percent as its deal with Greek betting monopoly OPAP more than offset the loss of a lucrative sports game. Intralot last year signed a 65-million-euro deal to provide OPAP with the equipment and software to operate its flagship fixed-odds sports game, Stoichima, in-house through to the end of June. The deal aims to help OPAP with the transition after the expiration of Intralot’s Stoichima risk management contract late in January this year.(Reuters)