Intralot has reaffirmed its confidence in meeting its full-year financial targets for 2025, even as it navigates a challenging nine-month period marked by a dip in topline revenue and a net loss.
The global gaming technology provider reported that revenue for the nine months ending in September reached €242.5 million. This figure represents a slight 2.9% decline compared to the previous year, although the company emphasized that on a constant currency basis, revenue actually edged up by 0.3%.
The financial landscape for Intralot has been heavily influenced by significant foreign exchange fluctuations. Group CEO Robeson Reeves highlighted that these “strong” headwinds skewed year-on-year comparisons, masking the underlying resilience of the business. Despite these external pressures, the company’s standalone performance remains solid, keeping it aligned with its strategic goals.
A pivotal development for the group has been the €2.7 billion acquisition of Bally’s International Interactive business, which was finalized earlier in November. This transformative deal has given Intralot full ownership of Bally’s digital assets, significantly altering its future earnings potential.
While the reported nine-month figures in 2025 reflect Intralot as a standalone entity, Reeves pointed to the robust performance of the acquired Bally’s unit, which generated €548 million in revenue and boasts a 43% adjusted EBITDA margin, as a key driver for future growth.
Breaking down the nine-month performance, Intralot’s core B2B and B2G segments continued to generate the lion’s share of income, accounting for over 95% of total revenue. Regional performance was mixed but showed promise in key territories; the US and Australia posted growth of 2.3% and 3.9% respectively in constant currency, while Argentina surged by nearly 20%. However, operations in Turkey faced headwinds due to hyperinflation accounting.
Looking ahead, the company is also bracing for the impact of the UK’s newly announced gambling tax hikes. Intralot has committed to an “aggressive” mitigation strategy to offset the rise in remote gaming duty, ensuring that its long-term growth plans remain largely intact, albeit with a potential one-year delay in specific targets.
Robeson Reeves, Group CEO of Intralot:
“Intralot’s nine-month results as a standalone company show that it has been on track to deliver its goals for 2025, weathering strong FX headwinds.”
“Our guidance for full-year 2025 pro forma the two entities annualised is expected in the area of €1.1 billion revenue and €435 million in adjusted EBITDA, with a combined margin of 40.65%.”
