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Intralot: Negotiating with two US states on sports betting deals

By Matina Harkoftaki

New investment opportunities in the US market are “seen” in the near future by Intralot, which seeks to place particular emphasis on the further development of its activities on the other side of the Atlantic. “In the US there is intense mobility and developments in the sports betting industry,” Chrysostomos Sfatos, the deputy chief executive of the listed company, told institutional analysts as he briefed on the financial results for the first quarter. “Sports betting and in this area there are important opportunities. Once some agreements are finalized then we will have the opportunity to reveal more details in the near future. At this stage we are negotiating with various States while we are at an advanced stage of negotiations with two specific ones.”

We remind you that Intralot is waiting for the approval by the Hellenic Capital Market Commission to proceed with the share capital increase for the raising of 125-130 million euros, which is expected to take place in mid-June.

Most of the funds will be directed to the repurchase of approximately 34% of the American subsidiary Intralot Inc, which was exchanged in the context of the debt restructuring of the listed company in August 2021.

As Mr. Sfatos underlined, so far, the exact amount of the increase has not been finalized and therefore it is not clear whether there will be residual funds that could be used for other purposes, something that would be welcome. It should be noted that AMK will be in favor of the old shareholders with a secured strategic investor, the American fund Standard General, which has committed to take up to one third of the unallocated shares.

Asked if there was any agreement on Standard General’s integration into Intralot’s organization and operation, Mr. Sfatos simply replied that no agreements had been reached at this time other than those related to its participation in the forthcoming shareholder increase. capital. Commenting on the financial results of the first quarter, the deputy CEO of the listed company commented that the other markets returned to normal faster than the American market.

Source: Capital

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