Saga Acquires Intralot’s Brazil Subsidiary

Saga Consultoria e Representaçes Comerciais e Empresariais has confirmed the sale of Intralot do Brasil Comércio de Equipamentos e Programas de Computador LTDA (Intralot do Brasil) by Intralot SA.

The entire cash consideration for the stake sale is €700,000, which is equivalent to 80 percent of the company’s voting stock. With a 20 percent stake in Intralot do Brasil, Saga is the sole other shareholder.

Intralot will continue to supply gaming technology to Intralot do Brasil as the company’s primary systems provider.

Intralot released its financial results for the first quarter of 2021 earlier this month, citing ‘strong revenue and EBITDA growth’ as a consequence of the ‘successful implementation of cost containment measures,’ according to Chairman and CEO Sokratis P Kokkalis.

Intralot announced a group revenue of €102 million for the quarter ending March 31, 2021, up 9.3 percent year on year from the same period last year (Q1 2020: €93.3 million).

Lottery games brought in the most money, accounting for 63 percent, followed by Sports Betting, which brought in 19.1 percent. VLTs accounted for 8.7 percent of overall revenue, technology contracts accounted for 8.7 percent, and racing accounted for 0.5 percent.

The company recorded gross gaming revenue (GGR) of €80.5 million for the first quarter of 2020, up 8.3 percent from the previous year (Q1 2020: €74.3 million).