Intralot pens 10-year contract with Taiwan's Public Welfare Lottery

Greek lottery and gaming solutions supplier Intralot has entered into a 10-year old contract to provide system technology for Taiwan’s Public Welfare Lottery. The agreement was worked out between CTBC Bank, which has been awarded the license by the Taiwanese government to manage the lottery; and LotRich Information, a Taiwanese joint venture in which Intralot is a significant shareholder.

The agreement is an extension of the existing relationship between Intralot and CTBC Bank that dates back to 2007. As part of the deal, Intralot will provide the LotosX gaming platform to CTBC Bank and its Taiwan Lottery subsidiary lottery operator. The platform features the IGMS IGMS Instant Games Management System, RetailerX Retailer Management System and Canvas Signage Content Management System.

The agreement also calls for the maintenance and support services for 5,500 PhotonX terminals that will be deployed in retailer  locations throughout Taiwan.

Last month, Intralot revealed its first-quarter results, announcing a 29.2% year-on-year rise in EBITDA. This amounted to €33.7 million ($36.1 million), while the group revenue reached €89.5 million ($96 million). The company credited the jump in quarterly EBITDA to “substantial growth” in its US operations.

Chairman & CEO Sokratis P. Kokkalis said in a statement at the time: “We are extremely proud of first quarter robust organic EBITDA growth of 29% and a return to Net Earnings, along with healthy cash flows and significant reduction of Group Net Leverage Ratio down to 3.6x, providing additional momentum to Intralot’s successful turnaround story as a result of our consistent efforts in the past few years.”