ECONOMY

Intralot moves into Azerbaijan

Gambling services pro-vider Intralot has been awarded the right to operate sports betting in Azerbaijan for the next 10 years as part of efforts to boost its presence in the region, it said yesterday. Intralot’s Turkish subsidiary Inteltek received authorization to organize, operate, manage, and develop fixed-odds and pari-mutuel sports betting games at more than 1,000 points of sale throughout the country on an exclusive basis. «We decided to enter the promising market of Azerbaijan together with our respectable partner Turkcell, through our joint venture Inteltek which has… a clear expansion strategy outside Turkey,» Athens-based Intralot said in a statement. Intralot is present in more than 50 countries, including Russia, Moldova and China. Its shares, which ended at 3.20 euros on the Athens bourse yesterday, have shed 22 percent in the last month versus a 10 percent slide in the broader market.