Greek Intralot Gets 10-Yr Instant Wins Contract In Poland
Friday January 17, 4:01 am ET
ATHENS (Dow Jones)--Greek Intralot is to enter the Polish instant lotteries market, the company said late Thursday.
The gaming systems developer and operator said Polski Monopol Loteryjny, one of Poland's two state lotteries, has awarded it a 10-year contract to develop, organize and operate instant winning tickets.
Intralot said it will be paid "a significant percentage of the games' turnover" without specifying details.
The agreement also foresees future use of Intralot's integrated lottery systems for other types of games via existing distribution channels in Poland and via new media.
Intralot said Poland's lottery market is worth around $600 million.
Athens-based analysts Friday said the contract was unlikely to significantly boost Intralot's bottom line as instant lotteries are usually high turnover, low margin operations.
However, they said the move into the Polish market is in line with the company's strategy for continuous geographical diversification and strengthening of foreign presence so is positive.
Intralot already operates instant winning ticket games in Moldova and provides marketing services for such games in Romania, Yugoslavia and Chile.
Intralot's shares closed Thursday EUR0.08 lower, or 0.6%, at EUR13.58.
-By Paul Tugwell, Dow Jones Newswires; 30 210 3312 881; paul.tugwell@ dowjones.com
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