S. Kokkalis: High goals for Intralot, with the entry of the American subsidiary to the stock market

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By Matina Harkoftakis

The management of Intralot is in consultation with the Capital Market Commission, in an effort to get the stock out of the surveillance regime sooner than what the procedure provides, while at the same time, as underlined by the president and managing director of the listed company Sokratis Kokkalis in the context of the annual General Assembly, seeks to introduce the American subsidiary Intralot Inc. as soon as possible. on the American stock market.

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“At the moment, after the share capital increase, there is a major partner Standard General, which has several listed companies and is active in the gaming sector. In September and October we will talk to them to agree when he will come in as soon as possible Intralo Inc. either on the Nasdaq or on Wall Street. This move will be something that will take the company off the ground significantly because we have the advantage that Intralot entered the US market many years ago and that has benefited US companies significantly.” , Mr. Kokkalis pointed out.

It should be noted that Intralot recently successfully completed a share capital increase of 129 million euros, which was directed to the repurchase of all the shares of the subsidiary company in America.

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“By extending the network to America we could recover the lost ground, but we ourselves lowered the profit margin for the providers to then enter the American market. The goal for us is to introduce the company to the American stock exchange and increase the value through the further strengthening of our activity on the other side of the Atlantic”, added the head of Intralot.

Regarding the issue of the company’s exit from the surveillance regime it is currently in, Mr. Kokkalis stated that the management is trying to negotiate with the Capital Market Commission in order not to wait until March, as the procedure provides as the annual financial statements must be checked first.

“There is no reason for the company to be under surveillance. The Commission also understands this, but there are specific procedures. However, we are optimistic that a solution will be found sooner,” he stressed.

Regarding the possibility of a dividend distribution, Intralot’s president did not rule out it happening even in 2022, but that does not depend, as he said, on us. “Our own effort is to settle the issues with our loan obligations and to be able to proceed with a share capital increase mainly for the American market, where we were looking for and found a fund, Standard General, that is, which deals with games of chance, we will talk with them about increasing our activity in America and in addition we will also discuss the dividend distribution which can be made from the results of the year 2022”, he noted.

Mr. Kokkalis also referred to the recent sales carried out by Intracom, such as the sale of a stake in Intrakat and Intrasoft, while pointing out that Intracom Holdings will now focus on its role of investing in various industries that have high returns.

“Intracom Holdings plans to invest in sectors in which it has some objective knowledge, such as gaming, technology and energy. We will also follow the spirit of the times where the focus is not so much on production as on stock exchange of capital. After all , in this part we have gained experience through Intralot. We have understood the most modern way to raise the value of our companies. We hope that we will make steady steps and the important thing is that our new partner has more experience and will contribute to the increase of our earnings the perspective of the vision. In terms of the energy sector that we want to invest in, it is a sector that remains questionable as to how it will evolve. The war in Ukraine is a negative development that they have taken advantage of all sides to impose sanctions which reflect negatively on the stock markets. We are going through a period that no one can determine how it will develop”, noted the president of Intralot.

Source: Capital

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