Latest News
INTRALOT Announces First Quarter 2021 Financial Results

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 31st, 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 | ||
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) | ||||||
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 | ||||||
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 | ||||||
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 | ||||||
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 31st, 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 31st, 2021, stood at €643.7m, decreased by €7.4m compared to December 31st, 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.
9
RECENT/ SIGNIFICANT COMPANY DEVELOPMENTS
- On January 14th, 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 8th, 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 24th, 2021, with the net cash consideration, after taxes and transaction expenses, amounting to USD 16.2m.
- On March 23rd, 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 14th, 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 26th, 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.
10
APPENDIX
Performance per Business Segment10
YTD Performance
Performance per Geography
Revenue Breakdown
(in € million) | 1Q21 | 1Q20 | % | ||
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 | % | ||
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.
11
Gross Margin Breakdown | ||||||
% | ||||||
1Q21 | 1Q20 | |||||
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 | ||||
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.
12
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 | 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 |
13
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 | |
Powered by WPeMatico
BiS SiGMA Americas 2025
All set for the start of the 2025 edition of BiS SiGMA Americas

The wait is over! The 2025 edition of BiS SiGMA Americas is already underway and promises to be historic, accompanying a moment of intense transformation and consolidation of the iGaming scene in Brazil.
For this reason, the largest betting event in Latin America is ready to welcome and meet the demands of the national and international community. This year, the organization decided to expand the physical space by 50%, from 20 thousand square meters to 32 thousand square meters distributed in 5 halls of the Transamerica Expo Center, in São Paulo.
In addition to the trade fair and conferences with more than 300 prestigious experts from around the world, BiS SiGMA Americas offers a diverse program, including award ceremonies, exclusive networking dinners, a poker tournament, an electrifying night with MMA fights and a grand closing party.
Expectation of record attendance
In addition to the categories that have always been present at the event, such as Online Betting Operators, Software and Technology Providers, Affiliates and Digital Marketing, Payment Methods and Financial Solutions, this edition draws attention to the presence of new technology companies that add value and provide innovative resources for the industry.
This means that the betting market is evolving, with new branches emerging to strengthen the ecosystem. KYC (Know Your Customer) companies, Consulting and Compliance, Information and Database Management, AdTechs and Digital Advertising Networks are making their presence felt with solutions to ensure security, regulatory compliance and more efficient growth strategies.
Furthermore, the recent regulation of sports betting and online gaming in Brazil represents a milestone for the market. BiS SiGMA Americas therefore serves as a platform for experts, regulators and industry leaders to assess the challenges and opportunities of this time of adaptation, as well as explore global trends that may impact the local industry.
Given this, the event organizers predict that the 2025 edition will reach a record number of attendees and participating brands. The estimate is that more than 18,000 people will pass through the Transamérica Expo Center by Thursday (10).
Event map
In order to facilitate visitors’ movement, the BiS SiGMA Americas organization is providing a map of the event, with all confirmed exhibitors and the location of their respective stands. You can check out the full map HERE.
BiS SiGMA Americas General Schedule
Monday, April 7th
- 02:00pm – 10:00pm – Early collection of badges at Canvas Bar & Restaurant – Hilton Morumbi
- 06:00pm – 10:00pm – Welcome Reception at Hilton Morumbi
- 07:30pm – 10:30pm – iGathering Dinner at Armazem Terrace – Hilton Morumbi
- 08:00pm – 11:00pm – SiGMA Awards at Tokio Marine Hall
Note: There will be no event at Transamerica Expo Center on this day
Tuesday, April 8th
- 09:00am – 06:00pm – Exposição: Exhibition: Day 1 at Transamerica Expo Center
- 09:00am – 06:00pm – Conferences: Day 1 at Transamerica Expo Center
- 06:00pm – 08:00pm – Networking Cocktail
- 07:00pm – 11:00pm – BiS Awards at Tokio Marine Hall
- 07:30pm – 10:30pm – iGathering Dinner at Pobre Juan – Morumbi Shopping Mall
- 07:30pm – 10:30pm – iGathering dinner at Caulí Lounge Bar
Wednesday, April 9th
- 10:00am – 06:00pm – Exhibition: Day 2 at Transamerica Expo Center
- 11:00am – 06:00pm – Conferences: Day 2 at Transamerica Expo Center
- 06:00pm – 08:00pm – Networking Cocktail
- 07:00pm – 12:00pm – Centurion MMA fight at VIP Station
- 07:00pm – 12:00pm – SiGMA Poker Tour Satellite Opens at Monte Carlo Poker Club
- 07:30pm – 10:30pm – iGathering Dinner at Armazem Terrace – Hilton Morumbi
Thursday, April 10th
- 11:00am – 06:00pm – Exhibition: Day 3 at Transamerica Expo Center
- 11:00am – 06:00pm – Conferences: Day 3 at Transamerica Expo Center
- 06:00pm – 08:00pm – Networking Cocktail
- 07:30pm – 10:30pm – iGathering dinner at Caulí Lounge Bar
- 05:00pm – 12:00pm – Main event SPT 1A hosted By Jon VLogs at Monte Carlo Poker Club
- 10:00pm – 04:00pm – Closing of BiS SiGMA at Tokio Marine Hall
The post All set for the start of the 2025 edition of BiS SiGMA Americas appeared first on Gaming and Gambling Industry in the Americas.
AGCO
Playnetic granted Ontario supplier license

Global B2B iGaming content provider secures first Canadian market entry following the successful submission and approval of its gaming-related supplier application
Playnetic, the in-demand global B2B iGaming content provider known for its quality games, reliable delivery and outstanding customer service, has announced the approval of its gaming-related supplier application by the Alcohol and Gaming Commission of Ontario (AGCO).
With the AGCO licensing process being recognised in the industry for its rigorous standards and thorough due diligence, the new certification confirms Playnetic was able to meet the high levels of integrity and regulatory compliance needed to legally distribute its content within the province.
As a result of the approval, Playnetic has now secured its first Canadian market entry and will be able to provide its library of innovative games to licensed operators in the Ontario region – with this starting point paving the way for further expansion into other regulated provinces in future.
Given signs of change emerging within the Canadian market and Alberta making progress toward a regulated online model – likely drawing from Ontario’s framework – this license positions Playnetic strongly to expand its footprint in the country and further solidifies the company’s ambitious growth plans.
In the meantime, Playnetic has already begun making groundwork with key operators in the Ontario region and is looking forward to going live with some exciting brands over the coming months. The company will also be attending SBC’s Canadian Gaming Summit from June 17-19, where both existing and new potential partners alike are welcome to stop by and meet the team.
Dan Phillips, Chief Executive Officer at Playnetic, said: “Acquiring AGCO approval for our gaming-related supplier application is undoubtedly a big step for Playnetic. The new license not only secures our first Canadian market entry, but also reaffirms Playnetic’s position as a trusted provider in iGaming and underlines our commitment to compliance and operational excellence.”
Julian Borg-Barthet, Chief Commercial Officer at Playnetic, said: “We’re very excited to now be in a position to offer our library of innovative gaming content in Ontario, and the groundwork to do that with some of the region’s biggest licensed operators is already underway. Over time, we’re confident this license will also help us expand further into current markets and emerging regulated provinces, such as Alberta.”
The post Playnetic granted Ontario supplier license appeared first on Gaming and Gambling Industry in the Americas.
Compliance Updates
Vixio Delighted To Be Shortlisted For An ICA Compliance Award for Technology Partner of the Year

Vixio, a leading provider of regulatory intelligence solutions, has been shortlisted for an International Compliance Association (ICA) Compliance Award for Technology Partner of the Year. The ICA Compliance Awards celebrate the outstanding achievements, collaboration, and innovation of the compliance and financial crime prevention teams across the globe.
Following a thorough judging process, Vixio was shortlisted ahead of the official awards ceremony which will be held on 26th June 2025.
The Technology Partner of the Year category entry detailed the outstanding work of Vixio, showcasing an innovative solution that helps compliance teams cut through the noise to understand the complex, ever-changing regulatory environment to mitigate risk and uncover growth opportunities.
Mike Woolfrey, CEO, Vixio commented, “Vixio has been offering comprehensive, actionable compliance intelligence for over two decades now and we are delighted to be recognised for our RegTech platform, which combines cutting-edge technology with the deep industry knowledge of our experts. We are honoured to be shortlisted for this award and I would like to take this opportunity to thank the outstanding Vixio team for their hard work and expertise.”
ICA’s President, Pekka Dare added, “It gives me great pleasure to congratulate Vixio on being shortlisted as a finalist in the category of Technology Partner of the Year. On behalf of ICA, I would like to thank everyone who entered the ICA Compliance Awards personally. All of the entrants represent the very best of what our industry has to offer, and I am looking forward to welcoming all our finalists to the awards ceremony on the 26th June.”
The judging panel was made up of a diverse range of highly influential and respected figures within the compliance and financial crime prevention community. This includes Lisa Bennett, Legal Compliance Director, Mastercard; Caroline Braddock, Civil Ethics and Compliance Officer, Rolls-Royce; Samer Jannoun, Head of Regional Ethics and Compliance Special Oversight, Meta; Dane Pedro, Presiding Justice and Magistrate, Ministry of Justice, UK; Chris Watkins, Head of Compliance & ESG, Renewable Power Capital; Ben Westwood, Head of Compliance & DPO, Motor Insurers Bureau.
The selected winners will be announced during the awards ceremony at the Park Plaza Westminster, London on 26 June 2025.
The post Vixio Delighted To Be Shortlisted For An ICA Compliance Award for Technology Partner of the Year appeared first on European Gaming Industry News.
-
Latest News3 days ago
DreamPlay consolidates its status as a global player in the iGaming industry and opens an office and campus in Cyprus
-
Amusnet5 days ago
Amusnet to Participate in the Third Edition of SiGMA Americas
-
Caesars Entertainment3 days ago
Caesars Entertainment Debuts its First Live Dealer Studio Inside One of its Caesars Rewards Destinations
-
Carlos Gomez6 days ago
Estadio Gana Launches in Mexico
-
Australia5 days ago
Changes to Tipping Off Offence Came into Effect in Australia
-
Australia5 days ago
Vanguard Overwatch Announces New Partnership Deal with McAtamney & Advisors
-
Latest News6 days ago
BMM INNOVATION GROUP TO SHOWCASE ITS WORLD-LEADING TESTING SERVICES FOR BRAZIL’S FAST-GROWING GAMING MARKET AT BIS SIGMA AMERICAS SUMMIT APRIL 7–10
-
Africa6 days ago
Play’n GO announces landmark South African partnership with Hollywoodbets