Intralot Group reported a 7.0 pct increase in revenue in the January-September period (up 19.5 pct in fixed currency rates) and attributed this development to intense competition in the sport betting market in Bulgaria, combined with the integration of Eurobet in its results, which led to a 16.2 pct increase in revenue in the third quarter of 2016 (+28.9 pct in fixed currency rates).
Intralot said revenue were up 3.6 pct in the last 12 months. EBITDA rose 2.4 pct in the nine-month period and EBITDA margin fell by 58 basis points. EBITDA profits fell by 14.3 pct in the third quarter.
Intralot issued a five-year bond loan, worth 250 million euros, in September, carrying a 6.75 pct interest rate, to refinance an existing bond loan worth 325 million euros, carrying a 9.750 pct interest rate, significantly reducing debt servicing spending. In November, Intralot sold an 80 pct of its activities in Peru to NG Entertainment Peru SAC for 68.7 million US dollars.
Antonios Kerastaris, CEO in Intralot, commenting on the results said third quarter was characterized by a significant organic growth of revenue helped by a strategy to introduce new products and services.
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