Latest News

INTRALOT Announces First Quarter 2021 Financial Results

Published

5 years ago

June 9, 2021

Reading Time: 14 minutes

INTRALOT SA (RIC: INLr.AT, Bloomberg: INLOT GA), an international gaming solutions and operations leader, announces its financial results for the three-month period ended March 31^st, 2021, prepared in accordance with IFRS.

Group Revenue at €102.0m in 1Q21 (+9.3% y-o-y).

EBITDA in 1Q21 at €24.4m (+55.4% y-o-y), while Adjusted EBITDA at €20.8m (+56.4% y-o-y).

NIATMI (Net Income After Tax and Minority Interest) from continuing operations at €-7.3m, improved by 57.8% compared to a year ago.

North America operations, under Intralot Inc., achieved significant y-o-y growth (Revenue +21.8%, EBITDA +81.8%).

Group OPEX in 1Q21 is better by 8.3% y-o-y, with Greek entities OPEX lower by 25.7% y-o-y, without taking into consideration the capital structure optimization expenses.

Operating Cash Flow at €21.6m in 1Q21 (+127.4% y-o-y).

Group Net CAPEX in 1Q21 was €2.9m, lower by 48.2% compared to a year ago.

Group Cash at the end of 1Q21 at €90.6m.

Net Debt at €643.7m at the end of 1Q21.

The COVID-19 pandemic impact for 1Q21 has been restrained in the vicinity of €1.5m at Group’s EBITDA level.

In May 2021, INTRALOT announced the sale of its 80% stake in “Intralot do Brasil”, to SAGA, the only other shareholder of Intralot do Brasil, holding 20% of the company, for a total cash consideration of €0.7m. INTRALOT will continue to provide its gaming technology to Intralot do Brasil following closing of the transaction.

Also in May 2021, INTRALOT announced that its subsidiary in The Netherlands INTRALOT BENELUX BV, in co-operation with the Nederlandse Loterij, completed the transition of the operator’s full gaming portfolio enabled by the innovative LotosX platform, and rolled out 4,300 Photon terminals along with its robust signage solution empowering further the retail channel of Nederlandse Loterij’s Lottery games and Sports Betting offering.

Group Headline Figures

(in € million)	1Q21	1Q20	%	LTM
(in € million)	1Q21	1Q20	Change	LTM
			Change
Revenue (Turnover)	102.0	93.3	9.3%	373.5
GGR	80.5	74.3	*8.3%*	299.1
OPEX¹	-23.2	-25.3	-8.3%	-93.1
EBITDA²	24.4	15.7	*55.4%*	74.9
EBITDA Margin (% on	23.9%	16.8%	+7.1pps	20.1%
Revenue)	23.9%	16.8%	+7.1pps	20.1%
Revenue)
EBITDA Margin (% on GGR)	30.3%	21.1%	+9.2pps	25.0%
Adjusted EBITDA³	20.8	13.3	56.4%	63.3
Capital Structure	-5.0	-0.3	–	-11.5
Optimization expenses	-5.0	-0.3	–	-11.5
Optimization expenses
D&A	-16.0	-18.2	-12.1%	-66.3
EBT	-3.4	-14.9	*77.2%*	-82.6
EBT Margin (%)	-3.3%	-16.0%	+12.7pps	-22.1%
NIATMI from continuing	-7.3	-17.3	*57.8%*	-94.1
operations	-7.3	-17.3	*57.8%*	-94.1
operations
Total Assets	612.1	755.3	–	–
Gross Debt	734.3	753.1	–	–
Net Debt	643.7	611.1	–	–
Operating Cash Flow from	21.6	9.5	127.4%	49.8
total operations	21.6	9.5	127.4%	49.8
total operations
Net CAPEX	-2.9	-5.6	-48.2%	-33.3

INTRALOT Chairman & CEO Sokratis P. Kokkalis noted:

“First quarter results show strong Revenue and EBITDA growth, driven by robust operational performance and successful implementation of cost containment measures, while maintaining a strong cash position. At the same time, we continue to sharpen our focus on strategic markets with higher margins, launch new operations, such as Croatia, and roll out our new product portfolio, overall pointing to a very healthy operational performance for 2021.”

OPEX presented exclude the capital structure optimization expenses.

The Group defines “EBITDA” as “Operating Profit/(Loss) before tax” adjusted for the figures “Profit/(loss) from equity method consolidations”, “Profit/(loss) to net monetary position”, “Exchange Differences”, “Interest and related income”, “Interest and similar expenses”, “Income/(expenses) from participations and investments”, “Write-off and impairment loss of assets”, “Gain/(loss) from assets disposal”, “Reorganization costs” and “Assets’ depreciation and amortization”.

Calculated as Proportionate EBITDA of fully consolidated entities including EBITDA from equity investment in Taiwan.

OVERVIEW OF RESULTS

REVENUE

Reported consolidated revenue posted an increase compared to 1Q20, leading to total revenue for the three-month period ended March 31^st, 2021, of €102.0m (+9.3%).

Lottery Games was the largest contributor to our top line, comprising 63.0% of our revenue, followed by Sports Betting contributing 19.1% to Group turnover. VLTs represented 8.7% and Technology contracts accounted as well for 8.7% of Group turnover, while Racing constituted the 0.5% of total revenue of 1Q21.

Reported consolidated revenue for the three-month period is higher by €8.7m year over year. The main factors that drove top line performance per Business Activity are:

€+1.3m (+3.9%) from our Licensed Operations (B2C) activity line, with the increase attributed mainly to higher revenue in:

Malta (€+2.8m), with the variance attributable mainly to the COVID-19 impact at the end of the first quarter of 2020.

The increase in our Licensed Operations activity line was partially mitigated by the lower performance in:

other Licensed Operations (referring to Brazil and Argentina), which dropped by €-1.5m, impacted mainly by the FX currency translation.

€+5.3m (+65.4%) from our Management (B2B/ B2G) contracts activity line with the variance driven by:
the surplus from our Turkish operations (€+3.1m), driven by Bilyoner’s improved top line performance, favored by the strong growth of the online market. In 1Q21, the local Sports Betting market expanded close to 2.0 times y-o-y, with the online segment representing close to 92% of the market at the end of 1Q21. Performance in Euro terms was partially mitigated by the headwinds in Turkish lira (32.3% Euro appreciation versus a year ago – in YTD average terms),

the launch of US Sports Betting in Montana and Washington, D.C. in late 2020 (€+1.3m), and

Morocco’s (€+0.9m or +31.2% y-o-y) improved performance, due to the COVID-19 impact in late 1Q20.

€+2.1m (+4.0%) from our Technology and Support Services (B2B/ B2G) activity line, with the increase attributed mainly to:

our US operations’ increased revenue (€+5.5m), mainly driven by the strong growth in our Lottery operations, while further boosted by a significant jackpot in January 2021, despite the effect from the adverse USD movement (9.1% Euro appreciation versus a year ago — in YTD average terms) and the lower merchandise sales in the current period.

The increase in our Technology and Support Services activity line was partially mitigated by the lower performance in:

The Netherlands (€-1.2m), impacted by the revised commercial terms which affected half of the first quarter of 2020 vs. full quarter effect in 2021,

Australia (€-1.1m), driven mainly by one-off merchandise sales in 1Q20, as well as the phasing-out of COVID-19 impact, while partially offset by the favorable currency movement, and

sales from other jurisdictions (€-1.1m), impacted mainly by lower merchandise sales in the current period and the COVID-19 impact.

Constant currency basis: In 1Q21, revenue — net of the negative FX impact of €13.2m — reached €115.2m (+23.5% y-o-y).

GROSS GAMING REVENUE & Payout

Gross Gaming Revenue (GGR) from continuing operations concluded at €80.5m in 1Q21, posting an increase of 8.3% (or €+6.2m) year over year, attributable to:

the increase in the non-payout related GGR (€+7.7m vs. 1Q20), driven mainly by the increased top line contribution of our US operations, as well as the improved performance of Bilyoner in the current period.

The GGR increase was partially counterbalanced by:

– the drop in our payout related GGR (-10.9% y-o-y or €-1.5m), driven mainly by the higher average payout ratio across all licensed operations in 1Q21 and especially in Malta, combined with the adverse FX impact from our licensed operations in Latin America (+2.8% y-o-y on wagers from licensed operations⁴). 1Q21 Average Payout Ratio⁵ increased by 5.5pps vs. LY (64.0% vs. 58.5%), affected mainly by the higher weighted contribution from our operations in Malta.

Constant currency basis: In 1Q21, GGR — net of the negative FX impact of €10.1m — reached €90.6m (+21.9% y-o-y).

OPERATING EXPENSES⁶ & EBITDA⁷

Total Operating Expenses decreased by €2.1m (or 8.3%) in 1Q21 (€23.2m vs. €25.3m in 1Q20). The variance is largely driven by the lower operating expenses across many key regions, such as the US and Morocco, and especially in the HQ, following cost savings and COVID-19 mitigation actions. The decrease was further supported by lower D&A in the current period, while it was only partially offset by the higher advertising costs in Bilyoner.

Other Operating Income from continuing operations concluded at €5.5m, presenting an increase of 52.8% y-o-y (or €+1.9m), driven by higher equipment lease income in the USA.

EBITDA, from continuing operations, amounted to €24.4m in 1Q21, posting an increase of 4% (or €+8.7m) compared to the 1Q20 results from continuing operations. 1Q21 Organic performance⁸ was boosted by the significant growth of our US operations in both Lottery and the new Sports Betting stream, Bilyoner’s improved performance and the operating expenses containments across many jurisdictions. The EBITDA increase was partially counterbalanced by Malta’s higher average payout ratio in 1Q21, a one-off revenue recognition in Australia in 1Q20, the revised commercial terms in Netherlands, as well as the adverse FX impact⁸ of currencies movement across many key markets (mainly US and Turkey).

Licensed Operations Revenue also include a small portion of non-Payout related revenue, i.e., value-added services, which totaled €0.8m and €0.4m for 1Q21 and 1Q20, respectively.
Payout ratio calculation excludes the IFRS 15 impact for payments to customers.

Operating Expenses analysis excludes expenditures related to capital structure optimization.

EBITDA analysis excludes Depreciation & Amortization, and expenditures related to capital structure optimization.

CPI adjusted for Turkey and Argentina (proxy).

On a yearly basis, EBITDA margin on sales improved to 23.9%, compared to 16.8% in 1Q20 (+7.1pps), as a result of revenue growth (mainly in the US and Turkey), combined with operating expenses containments across many key regions (mainly in HQ, US and Morocco).

LTM EBITDA rose to €74.9m, up by 13.1% vs. FY20.

Constant currency basis: In 1Q21, EBITDA, net of the negative FX impact of €3.9m, reached €28.3m (+80.3% y-o-y).

EBT / NIATMI

EBT in 1Q21 totaled €-3.4m, compared to €-14.9m in 1Q20, with the key drivers of the improvement being:

the impact of the increased EBITDA (€+8.7m vs. 1Q20), as described above,

the better FX results (€+4.2m vs. 1Q20), as a result of the USD and other currencies movement against Euro, as well as the positive effect from the reclassification of FX reserves to Income Statement applying IFRS 10, and

the decreased D&A (€+2.2m), due to increased impairments in the previous periods.

With the increase at EBT level being partially offset by:

– the higher capital structure optimization expenses in 1Q21 (€-4.7m).

Constant currency basis: In 1Q21 EBΤ, adjusted for the FX impact, reached €+1.0m, from €-14.1m in 1Q20.

NIATMI from continuing operations in 1Q21 concluded at €-7.3m compared to €-17.3m in NIATMI from total operations in 1Q21 amounted to €-8.2m (improved by €9.4m vs. a year ago), including the performance of the discontinued operations in Bulgaria and Peru.

Constant currency basis: NIATMI (total operations) in 1Q21, on a constant currency basis, reached €-10.3m from €-17.4m in 1Q20.

CASH-FLOW

Operating Cash-flow in 1Q21 amounted to €21.6m, increased by €12.1m, compared to 1Q20. Excluding the operating cash-flow contribution of our discontinued operations (mainly Bulgaria) and the capital structure optimization expenses paid, the cash-flow from operating activities is higher by €15.9m vs. a year ago and is largely driven by the positive variance in Income Taxes paid (€+12.2m), attributed to Income Tax returns during the current period vs. payments in 1Q20, and the higher recorded EBITDA y-o-y from continuing operations (€+8.7m), while partially offset by the adverse working capital movement of €-5.5m (€-7.3m in 1Q21, vs. €-1.8m in 1Q20).

Adjusted Free Cash Flow⁹ in 1Q21 increased by €24.4m to €4.1m, compared to €-20.3m a year The main contributors to this variance were the positive swing in the Income Taxes Paid (€+12.2m), following an income tax return in 1Q21, the higher recorded EBITDA (€+8.7m y-o-y), and the lower Net Dividends paid (€+2.5m), driven mainly by Inteltek’s dividend paid in 1Q20 as part of settlement procedures after its contract discontinuation. Excluding Parent company tax audit payments and returns, as well as Inteltek’s contract discontinuation impact in the previous period, 1Q21 Adjusted Free Cash Flow stands at €-1.1m, or €+8.3m above 1Q20 levels.
Calculated as EBITDA – Maintenance CAPEX – Cash Taxes – Net Cash Finance Charges (excluding refinancing charges – Net Dividends Paid; all finance metrics exclude the impact of discontinued operations.

Net CAPEX in 1Q21 was €2.9m, compared to €5.6m in 1Q20, significantly decreased following the completion of prior years’ investments and projects. Headline CAPEX items in 1Q21 include €0.9m towards R&D and project pipeline delivery, and €0.9m in the US. All other net additions amount to €1.1m for 1Q21. Maintenance CAPEX accounted for €0.8m, or 28.0% of the overall capital expenditure in 1Q21, from €1.6m or 28.1% in 1Q20.

Net Debt, as of March 31^st, 2021, stood at €643.7m, decreased by €7.4m compared to December 31^st, 2020. The Net Debt movement was impacted primarily by the Net Investments (€-13.3m, referring mainly to Intralot de Peru sale impact), the bonds IFRS treatment positive effect (€-9.3m), as well as an income tax return in the first quarter of 2021 related to the Parent Company tax audit payments of the previous periods (€-5.2m). The Net Debt decrease was only partially offset by the Restricted Bank Deposits for the period (€+3.2m), the payments towards Capital Structure Optimization (€+3.1m), and the investments towards the growth of our business, mainly for our projects in the US and Croatia (€+1.9m). Normal course of business in the Net Debt movement reflects March coupon payments and the adverse Working Capital, that fully offset the positive Operating Cash Flows.

CORONAVIRUS PANDEMIC IMPACT UPDATE

The economic fallout from COVID-19 continued to affect business activities in the beginning of 2021, and restrictions in most of the regions across the world were still enforced to cope with the spread of the pandemic. However, as vaccinations are progressing, governments have loosened COVID-19 measures after months of lockdowns, and gradually re-opened economic activities.

Gaming market in most of the regions where we operate has started to improve, while US Lottery market shows high degree of resilience. Based on the current performance of our operations in the first months of 2021 and the actions undertaken by most of our subsidiaries, no significant EBITDA impact is expected post 1Q21 from the pandemic. In any case, the scale and magnitude of COVID-19 impact for 2021 is continuously assessed and all containment measures assumed in 2020 remain intact and have been enhanced in order to absorb the potential impact in the financial results of 2021. The extent to which the COVID-19 pandemic may impact the financial performance in 2021 will depend on future development of the pandemic and the efficiency of the actions taken by the governments. This uncertainty will require us to continually adapt our strategy and initiatives and continuously assess the situation.

The health and safety of our team remains our top priority. With this in mind, we have immediately complied with all measures imposed by local governments and used technology in order to immediately enable a substantive majority of our personnel to work and collaborate remotely, without affecting the performance and quality standards of the Group.

RECENT/ SIGNIFICANT COMPANY DEVELOPMENTS

On January 14^th, 2021, the Company announced that OPAP exercised its two-year extension option of the contract with INTRALOT for the continuation of the collaboration of the two companies in the field of numerical lotteries and services from August 2021 to July 2023.

On February 8^th, 2021, INTRALOT announced that it has reached a binding agreement with Nexus Group in Peru to sell its entire stake of 20% in Intralot de Peru SA, an associate of INTRALOT Group, which was consolidated through the Equity method, for a cash consideration of USD 21.0m. In addition, the Company signed a three-year extension of its current contract with Intralot de Peru SA through 2024, to continue to provide its gaming technology and support services. The transaction was completed on February 24^th, 2021, with the net cash consideration, after taxes and transaction expenses, amounting to USD 16.2m.

On March 23^rd, 2021, INTRALOT announced the amendment of the contract of INTRALOT Maroc, a subsidiary of the INTRALOT Group acting as games operator in Morocco, with La Marocaine Des Jeux et des Sports (MDJS), a state lottery offering sports betting and other games of chance in Morocco, which was signed in June 2019. According to this amendment, counterparties agree to reduce the duration of the contract, which was initially effective for an 8-year term, ending 31/12/2022.

On May 14^th, 2021, INTRALOT announced that it has reached a binding agreement with “SAGA CONSULTORIA E REPRESENTAÇÕES COMERCIAIS E EMPRESARIAIS” (“SAGA”) in Brazil to sell its entire stake in “Intralot do Brasil Comércio de Equipamentos e Programas de Computador LTDA” (“Intralot do Brasil”), representing 80% of the company’s voting capital. SAGA is the only other shareholder of Intralot do Brasil holding 20% of the company. INTRALOT will continue to provide its gaming technology to Intralot do Brasil following closing of the transaction. The total cash consideration for the stake sale amounts to €0.7m.

On May 26^th, 2021, INTRALOT announced that its subsidiary in The Netherlands INTRALOT BENELUX BV, in co-operation with the Nederlandse Loterij, completed the transition of the operator’s full gaming portfolio enabled by the innovative LotosX platform. Additionally,

INTRALOT has rolled out 4,300 Photon terminals along with its robust signage solution empowering further the retail channel of Nederlandse Loterij’s Lottery games and Sports Betting offering.

APPENDIX

Performance per Business Segment¹⁰

YTD Performance

Performance per Geography

Revenue Breakdown

(in € million)	1Q21	1Q20	%
(in € million)	1Q21	1Q20	Change
			Change
Europe	34.4	39.0	-11.8%
Americas	55.0	49.7	10.7%
Other	16.8	14.0	20.0%
Eliminations	-4.2	-9.4	–
Total Consolidated Sales	102.0	93.3	*9.3%*

Gross Profit Breakdown

(in € million)	1Q21	1Q20	%
(in € million)	1Q21	1Q20	Change
			Change
Europe	-1.8	2.5	–
Americas	14.4	9.1	58.2%
Other	14.2	9.8	44.9%
Eliminations	-0.7	-2.3	–
Total Consolidated Gross Profit	26.1	19.1	*36.6%*

Part of the US revenue that concerns SB management, has been included under the category “Game Management”. The rest of the US revenue is included under the “Technology” business segment.

Gross Margin Breakdown
				%
		1Q21	1Q20	%
		1Q21	1Q20	Change
				Change
	Europe	-5.2%	6.4%	-11.6pps
	Americas	26.2%	18.3%	+7.9pps
	Other	84.5%	70.0%	+14.5pps
	Total Consolidated Gross Margin	25.6%	20.5%	*+5.1pps*

INTRALOT Parent Company results

Revenue for the period decreased by 55.3%, to €4.6m, with the decrease attributable mainly to one-off equipment sales in 1Q20, as well as lower rendering of services towards the Group’s subsidiaries in the current period.

EBITDA shaped at €-4.5m from €-2.4m in 1Q20, variance affected mainly by the revenue decrease, while partially offset by the containments in the Company’s operating expenses.

Earnings after Taxes (EAT) at €-0.1m from €-10.2m in 1Q20.

(in € million)	1Q21	1Q20	%	LTM
(in € million)	1Q21	1Q20	Change	LTM
			Change
Revenue	4.6	10.3	*-55.3%*	42.0
Gross Profit	-3.1	0.1	–	12.3
Other Operating Income	–	–	–	0.2
OPEX¹¹	-5.1	-6.9	-26.1%	-25.7
EBITDA¹¹	-4.5	-2.4	*-87.5%*	0.7
EAT	-0.1	-10.2	*99.0%*	-30.5
CAPEX (paid)	-0.5	-1.9	-73.7%	-6.4

Operating Expenses and EBITDA presented exclude the expenditures related to capital structure optimization.

SUMMARY OF FINANCIAL STATEMENTS

Group Statement of Comprehensive Income

(in € million)

1Q21

1Q20

LTM

Change

Revenue

102.0

93.3

9.3%

373.5

Gross Profit

26.1

19.1

36.6%

82.3

Other Operating Income

5.5

3.6

52.8%

19.5

OPEX

-23.2

-25.3

-8.3%

-93.1

EBITDA

24.4

15.7

55.4%

74.9

Margin

23.9%

16.8%

+7.1pps

20.1%

Capital Structure Optimization

-5.0

-0.3

–

-11.5

expenses

D&A

-16.0

-18.2

-12.1%

-66.3

EBIT

3.4

-2.9

–

-2.8

Interest expense (net)

-11.8

-12.0

1.7%

-48.2

Exchange differences

3.7

-0.5

–

-5.4

Other

1.3

0.5

160.0%

-26.2

EBT

-3.4

-14.9

77.2%

-82.6

NIATMI

-8.2

-17.6

53.4%

-96.8

NIATMI continuing

-7.3

-17.3

57.8%

-94.1

NIATMI discontinued

-0.9

-0.3

-200.0%

-2.7

Group Statement of Financial Position

(in € million)

1Q21

FY20

Tangible Assets

138.9

134.3

Intangible Assets

200.7

202.0

Other Non-Current Assets

19.4

19.2

Inventories

24.2

25.7

Trade and Other Short-term Receivables

138.3

151.5

Cash and Cash Equivalents

90.6

100.0

Assets Held for Sale

–

16.2

Total Assets

612.1

648.9

Share Capital

47.1

Other Equity Elements

-270.6

-269.3

Reserves from profit / (loss) recognized directly in other

–

-0.6

comprehensive income and are related to assets held for sale

Non-Controlling Interests

1.5

3.7

Total Shareholders’ Equity

-222.0

-219.1

Long-term Debt

480.5

476.2

Provisions/ Other Long-term Liabilities

20.8

21.5

Short-term Debt

253.8

274.9

Other Short-term Liabilities

79.0

95.4

Total Liabilities

834.1

868.0

Total Equity and Liabilities

612.1

648.9

Group Statement of Cash Flows

(in € million)	1Q21	1Q20

EBT from continuing operations	-3.4	-14.9
EBT from discontinued operations	0.5	–
Plus/less Adjustments	23.3	31.1
Decrease/(increase) of Inventories	-1.3	1.0
Decrease/(increase) of Receivable Accounts	13.5	-0.2
(Decrease)/increase of Payable Accounts	-17.6	-2.0
Income Tax Paid	6.6	-5.5
Net Cash from Operating Activities	21.6	9.5
Net CAPEX	-2.9	-5.6
(Purchases) / Sales of subsidiaries & other investments	13.3	-0.5
Restricted bank deposits	-3.2	-0.7
Interest received	0.3	0.6
Dividends received	–	1.0
Net Cash from Investing Activities	7.5	-5.2
Cash inflows from loans	–	27.5
Repayment of loans	-11.2	-27.2
Repayment of Leasing Obligations	-1.4	-1.8
Interest and similar charges paid	-21.4	-22.1
Dividends paid	-5.1	-7.9
Net Cash from Financing Activities	-39.1	-31.5
Net increase / (decrease) in cash for the period	-10.0	-27.2
Exchange differences	0.6	-1.9
Cash at the beginning of the period	100.0	171.1
Cash at the end of the period from total operations	90.6	142.0

Affiliate Events

Taking Off with N1 Partners at iGB Affiliate 2026 in Barcelona: Grand Final and a Helicopter for the N1 Puzzle Promo Winner

Published

2 days ago

January 9, 2026

Wladimir P.

taking-off-with-n1-partners-at-igb-affiliate-2026-in-barcelona:-grand-final-and-a-helicopter-for-the-n1-puzzle-promo-winner

N1 Partners is heading to iGB Affiliate 2026 in Barcelona with a clear focus on partners and the grand finale of the global N1 Puzzle Promo. During the event dates, N1 Partners will welcome partners at the booth and host an exclusive evening side event in Barcelona, where the winner of the promo will be announced and awarded the grand prize: a Robinson R22 Beta II helicopter.

At iGB Affiliate 2026, N1 Partners will welcome industry colleagues at booth 80-C80. Conversations at the stand will focus on performance, traffic strategies, and the key priorities for growth in 2026.

At booth 80-C80, visitors will find an exclusive “The Sky Is Not the Limit” merch drop created specifically for iGB Affiliate 2026. A cocktail bar will be part of the booth experience, making it a convenient meeting point throughout the day. The N1 Partners booth is designed as a space where partners can easily stop by, start a conversation, and spend time, combining a relaxed atmosphere with the right setting for discussing deals and strategies.

Interactive elements with prizes will add an engaging touch to booth visits. Most importantly, partners will be able to speak directly with N1 Partners affiliate managers about current market dynamics, upcoming trends for 2026, traffic performance, and individual cooperation terms.

N1 Puzzle Promo Grand Finale Party

The N1 Puzzle Promo has been running globally from April 21 to December 31, 2025, bringing partners together around a long-term competition built on performance and consistency. Over the course of the year, participants progressed through the promo step by step, moving up the leaderboard and unlocking rewards as they advanced toward the final stage.

On January 20, N1 Partners will host a private party in Barcelona to mark the grand finale of the N1 Puzzle Promo. During the event, the company will announce the top three partners and the winner of the grand prize, a Robinson R22 Beta II helicopter.

The evening is designed as a celebration of a year-long promo journey. It brings together partners, invited guests, and the N1 Partners team in an informal setting that combines recognition, entertainment, and shared moments. The program follows a structured show format with live performances and curated experiences created specifically for the N1 Partners community.

Find out who the special guest of the evening will be and secure your spot: https://n1puzzle.promo/en.html

Why Meet N1 Partners in Barcelona

iGB Affiliate 2026 is an opportunity for partners to reconnect with the N1 Partners team and benefit from:

14+ licensed casino and sportsbook brands with Reg2Dep up to 70%
Top deals across 10+ Tier-1 GEOs
CPA up to €700 for partners with top-performing traffic, RevShare up to 45% + NNCO, and hybrid models

Book your meetings with N1 Partners affiliate managers at booth 80-C80 and join the N1 Puzzle Promo finale in Barcelona.

After all, why drive when you can fly?

Be number one with N1 Partners.

The post Taking Off with N1 Partners at iGB Affiliate 2026 in Barcelona: Grand Final and a Helicopter for the N1 Puzzle Promo Winner appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Affiliate Management

N1 Faces: Daria Maichuk — “Communication as the Key to Strong, Effective Partnerships in Affiliate Marketing”

Published

2 days ago

January 9, 2026

Wladimir P.

n1-faces:-daria-maichuk-—-“communication-as-the-key-to-strong,-effective-partnerships-in-affiliate-marketing”

In iGaming, many things start with a simple “hi” in chat. Messages turn into long conversations, calls follow one after another, yet the goal remains the same — to make traffic profitable. Behind every dialogue is a person with their own background, approach, and communication style — and that’s exactly what defines the success of any partnership.

Partners need to see more than just a messenger account — they need to see a real person they can trust with their traffic and their goals.

N1 Faces is a series of short and lively interviews where N1 Partners introduces the managers behind the affiliate program: their values, their workflows, and their unique management styles.

Today’s spotlight is on Daria Maichuk, Affiliate Manager at N1 Partners, who shares her journey into the industry, her approach to building reliable long-term partnerships, and how she maintains internal balance while working at a fast pace.

Daria Maichuk

Affiliate Manager, N1 Partners

Daria is the kind of manager whose calm mindset, attentiveness, and quick reaction become obvious within the first minutes of communication. She maintains a fast pace, yet always leaves room for a genuine conversation — and that’s what makes working with her both easy and productive.

How did you get into the affiliate industry, and when did you realize it was the right fit for you?

I entered the industry in 2019, starting as an account manager at an advertising network. We worked with push, pops, native — and I had the chance to dive into each vertical.

After four years, I felt the need to focus on one direction and look at the market from another angle — to understand how different traffic sources operate. The role of an affiliate manager offered exactly that: an opportunity to explore the product in depth, build long-term relationships with partners, see campaign launches from the inside, and directly influence performance.

Why N1 Partners? What aligned in terms of values and approach?

I had known about the company for a long time — since 2020. We ran push-traffic tests together, and met often at conferences. I always noticed the team’s energy, openness, and genuine passion for their work. N1 Partners felt like a place where people truly love what they do.

When the opportunity to join the team appeared, I immediately felt that the rhythm and atmosphere matched me perfectly.

What advice would you give yourself in your first month on the job?

Don’t be afraid of the information flow — trust yourself more. At first everything may seem overwhelming, but over time each puzzle piece falls into place, especially once real practice begins.

How do you usually start communication with a new partner? What’s important to understand in the first five minutes?

It’s ideal when both sides have time for a quick call — to meet, exchange expertise, and discuss all details and expectations for upcoming launches. We share the results we aim to see by certain deadlines, while the partner outlines their vision — which GEOs they want to run now and what conversion they expect.

For me, it’s important to understand how open the partner is, how willing they are to share details about their launch plans, and which approaches they intend to use. Our goal is always the same: find terms that are mutually beneficial.

How do you build trust with a partner to ensure productive cooperation?

Personal communication is key, and conferences help immensely. Face-to-face interaction allows you not only to discuss business but also to learn more about the person. Small details can significantly improve future communication and make it more trusting.

Sometimes one meeting is enough for the dialogue to become smoother, faster, and more efficient.

This personal contact becomes a bridge that simplifies any further work.

Are there cases when you need to give tough feedback? How do you do it while preserving trust and a good working relationship?

Yes, it happens — and in such situations I always rely on statistics and concrete data. Numbers speak for themselves, which keeps the conversation transparent, grounded, and efficient. We look at facts together and make decisions based on them.

Constructive feedback with clear recommendations often becomes the most valuable tool for mutual growth.

What personal communication rules help you maintain speed without sacrificing quality?

I follow several principles: be polite, listen carefully, ask the right questions, avoid interrupting, and clarify anything that may cause misunderstanding.

These simple rules help keep both the pace and the quality of communication high.

What energizes you outside of work, and how does it help in working with partners?

Anything connected to movement and social interaction: sports (three workouts a week), yoga, walking my dog, warm moments with family and friends.

Time spent outside work helps me recharge, stay balanced, and maintain my energy levels. Thanks to this, I remain attentive, calm, and ready for constructive dialogue with partners.

If not iGaming, then… who would you be?

As a child, I dreamed of becoming a flight attendant — I loved the atmosphere of travel and the feeling of being close to the sky.

Speaking of my current interests, I would probably choose marketing — maybe performance or targeted advertising. I’ve always been drawn to its dynamics and opportunities for creativity.

Name the Top-3 tools you can’t imagine an affiliate manager working without.

CRM systems and convenient communication channels

They structure daily workflow, simplify interaction, and help keep important details organized.

Monitoring dashboards and analytics tools

They make it possible to evaluate traffic quality, build reports, and make data-driven decisions.

Work devices & messengers

The backbone of daily communication — calls, quick discussions, approvals, and keeping constant contact with partners.

Phone, laptop, Telegram, and MS Teams are my essentials.

Join N1 Partners

To discuss a new launch, choose the right terms for your traffic, or test an offer, you can contact Daria directly.

N1 Partners provides everything partners need to stay ahead and achieve results: high-converting products, regular analytics with optimization recommendations, and full support from the team.

Become a partner: https://n1.partners/

N1 Partners is more than just an affiliate program. The company brings together 14+ casino and betting brands, operates in 10+ Tier-1 GEOs, delivers Reg2Dep rates of up to 70%, and offers competitive conditions for top partners — CPA up to €700 and RevShare up to 45%.

More than 14,000 partners trust N1 Partners for its transparency, flexibility, and an approach where people and communication quality play a central role.

The post N1 Faces: Daria Maichuk — “Communication as the Key to Strong, Effective Partnerships in Affiliate Marketing” appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.