NODWIN Gaming, South Asia’s leading gaming and esports company, announces the return of the OnePlus Android Battlegrounds Mobile India Masters Series (BGMS). Season 4 of India’s most-watched esports event is set to air live on Star Sports Khel and on JioHotstar from 5:00 PM to 8:00 PM, starting August 18 to September 14. This marks the first time BGMS will be available on JioStar, promising an even bigger, bolder, and more inclusive tournament experience with a prize pool of ₹ 1,50,00,000

For the First Time: Multi-Cam Broadcasts

Elevating the viewing experience, BGMS Season 4 introduces a multi-cam broadcast setup for the first time ever. Viewers can now watch the action unfold from:

• 1 Main Cam

• 1 Dedicated Map Cam

• 4 Top Team Cams, featuring one key player each

From next week, the player cams will spotlight standout performers, giving fans a closer look at the tournament’s rising stars.

Advertisement

Format: Bigger, Bolder, and More Inclusive

Season 4 introduces a dual-tier structure for the first time in BGMS history—bringing together the BGMS (Masters Series) and the newly launched BGCS (Challenger Series). This format allows aspiring teams to compete directly with pros, making BGMS 2025 the most accessible and inclusive edition yet.

• BGMS: 24 of India’s top BGMI teams will battle in a LAN setting for the championship title, broadcast live on Star Sports.

• BGCS: Serving as the official feeder league, BGCS will also feature 24 teams—2 from OnePlus Campus Dominate, 1 from TVS Raider Wicked Battles, 17 invited squads, and 4 all-women teams, marking a milestone for gender inclusivity in Indian esports.

Playoffs: Where Dreams Get Real

At the end of three weeks of BGCS action, the top 4 teams will progress to the playoff stage, where they will challenge the bottom 12 BGMS teams (those ranked 13–24 after the group stages). The Top 8 BGMS teams (Ranked 1–8) will advance directly to the Semifinals and they will be joined by the Top 8 teams from the Playoffs. These 16 teams will then compete in the Semifinals, leading into the BGMS Grand Finals. For the first time ever, amateur teams from BGCS have a real opportunity to win BGMS, redefining the competitive landscape of Indian mobile esports.

The tournament continues to push the envelope with its unique mechanics designed to reward strategy, risk, and aggression. The Powerplay, first introduced in Season 2, awards double points per finish during the first zone of a match, encouraging teams to engage early. Powerplay will be active across all days in BGMS and BGCS. The Impact Player feature, available on weekends (except the final week), lets each team designate one player whose finish points are doubled, adding a strategic edge to roster decisions. The Bounty System, introduced last year, returns this season with a daily run from August 21 to September 7 in BGMS, awarding an additional 10 points to any team that fully eliminates a designated “bounty team.” This high-risk, high-reward mechanic adds strategic depth and can dramatically swing the leaderboard. The Impact Player and Bounty system will be only active in BGMS.

Advertisement

Season 4 will also feature two back-to-back LAN events. The first, beginning around 12:00 PM , will host the earlier Challenger Series matches and qualifiers, followed by the master series matches from 5:00 PM to 8:00 PM. This dual LAN setup aims to deepen the live audience experience and elevate the competition’s production value.

“BGMS has always been more than a tournament; it’s a cultural phenomenon,” said Akshat Rathee, Co-Founder and Managing Director of NODWIN Gaming. “This year, we’ve expanded the format to reflect the breadth of Indian gaming. From grassroots to greatness, from campus halls to national TV. This is BGMS like you’ve never seen before. We’re thrilled to welcome OnePlus, Android, TVS and Bisleri as partners as we push the envelope once again.”

Siddharth Sharma, Head – Audience Engagement, Viewership, and Monetization Initiatives – JioStar, said “BGMS continues to break new ground in Indian esports, and we at JioStar are proud to bring this cultural movement to screens across the country. This season’s expanded format, diverse participation, and high-quality gameplay exemplify the kind of dynamic, youth-driven content we aim to champion.” 

Now in its fourth year on national television, BGMS remains India’s first-ever televised BGMI tournament and one of NODWIN Gaming’s flagship IPs. Season 3 recorded over 145.5 million views across platforms, continuing to redefine mobile esports in India. This season, BGMS raises the bar with a wider reach, greater scale, and deeper impact on India’s gaming ecosystem. Beyond crowning champions, the new revamped format of the tournament aims to create new opportunities for emerging talent from all segments of India’s growing esports community.

Season 4 will also feature two back-to-back LAN events. The first, beginning around 12:00 PM, will host the earlier Challenger Series matches and qualifiers, followed by the master series matches from 5:00 PM to 8:00 PM. This dual LAN setup aims to deepen the live audience experience and elevate the competition’s production value.

Advertisement

Together, BGCS and BGMS will deliver x hours of elite BGMI competition, showcasing India’s top-tier esports talent across digital and television platforms.

With BGMS Season 4 just around the corner, as pro teams gear up and new players fight their way through qualifiers, BGMS Season 4 is set to be the most expansive, competitive, and inclusive edition yet.

Vindral has strengthened its board of directors with the appointment of iGaming industry veteran Henrik Fagerlund as Chairman of the Board.

Henrik brings more than 20 years of experience across both B2C and B2B gaming. He has held senior leadership roles at Evolution and NetEnt, and most recently spent three years as Managing Director of RAW Live at RAW iGaming, where he oversaw the development of new live gameshow formats. After many years in Malta, Henrik recently returned to Stockholm, where he has also been running his own consultancy business supporting a range of gaming companies.

Founded a decade ago by a team of Swedish technologists with expertise in video, audio, real-time streaming, and AI, Vindral provides a high-performance live video platform purpose-built for the demands of modern live gameshow broadcasting studios, where quality, control, innovation, and scalability are essential.

Daniel Alinder, Chief Executive Officer at Vindral, commented: “We’re delighted to welcome Henrik as Chairman of the Board, and also as an active working member who will contribute to both business development and marketing. Beyond his extensive industry knowledge, Henrik brings a proven ability to grow businesses and build strong teams. At Vindral, we’re scaling our platform across multiple verticals, from live auctions and sports to broadcasting and, most importantly, iGaming. Henrik’s insight into both the product and commercial sides of this industry will be invaluable as we strengthen our position and accelerate growth. His appointment marks an exciting step forward for the company.”

Advertisement

Henrik Fagerlund, newly appointed Chairman of the Board at Vindral, said:
“I’m very pleased to join Vindral at such an exciting stage of its journey. Having known the team since their RealSprint days, I’ve seen first-hand their ability to solve complex challenges in live streaming and gaming. With innovations like AI-powered Computer Vision and Custom Trackers, Vindral is pushing boundaries in a way that few others can. I look forward to contributing my experience and network to support the company’s continued growth.”

INTRALOT SA (RIC: INLr.AT, Bloomberg: INLOT GA), an international gaming solutions and operations leader, announces its financial results for the six-month period ended June 30 th, 2025, prepared in accordance with IFRS.

(in € million)	1H25	1H24            % Change		2Q25	2Q24            % Advertisement Change		LTM
Revenues1	168.0	165.3	1.7%	79.6	83.6	-4.8%	358.3
OPEX	(47.6)	(55.1)	-13.6%	(19.7)	(28.2)	-30.1%	(110.0)
EBITDA	60.2	59.5	1.2%	30.0	29.4	2.2%	125.4
AEBITDA2	60.2	59.5	1.2%	30.0	29.4	2.2%	131.5
AEBITDA Margin (% on Revenue)	35.8%	36.0%	-0.1pps	37.8%	35.2%	+2.6pps	36.7%
Reorganization expenses	(0.4)	(1.3)	-65.3%	(0.4)	(0.3)	53.8%	(1.6)
D&A	(34.8)	(35.2)	-1.1%	(16.5)	(17.7)	-7.1%	(70.5)
EBT	9.8	6.1	61.4%	6.2	0.7	810.0%	21.8
EBT Margin (%)	5.8%	3.7%	+2.2pps	7.8%	0.8%	+7.0pps	6.1%
NIATMI	(0.1)	4.6               –		0.5	0.7	-34.0%	0.2
Total Assets	517.2	583.2             –		–	–	–	–
Gross Debt	400.3	447.6             –		–	–	–	–
Net Debt	333.6	362.2             –		–	–	–	–
Net Debt (Adjusted)3	303.0	338.2             –		–	–	–	–
Operating Cash Flow	72.2	45.0	60.6%	23.3	17.9	30.5%	114.4
Net CAPEX	(14.2)	(11.7)	21.7%	(8.6)	(4.8)	78.0%	(40.0)

INTRALOT’s Chairman Sokratis P. Kokkalis noted:

 1 Revenues are defined as Net Sales after winners’ payouts (GGR). For comparability purposes, 2024 figures have been

adjusted accordingly.

2 Adjusted EBITDA (AEBITDA) is defined as EBITDA excluding the impact from the settlement agreement with the District of Washington DC and all related costs that took place in December 2024.

Advertisement

3 Net Debt (Adjusted) is defined as Net Debt excluding the impact from Restricted cash related to financing activities and Debt repayments.

REVENUES

Reported consolidated revenues posted an increase of 1.7% compared to 1H24, leading to total revenues for the six-month period ended June 30^th, 2025, of €168.0m.

• From a contribution perspective, the Lottery Games remain our largest contributor to Group’s revenue with a share of 53.0%, followed by Sports Betting with a share of 22.0%, VLTs monitoring with a share of 12.8% and Technology contracts with a share of 12.2%.
• Reported consolidated revenues for the six-month period is higher by €2.7m year over The main factors that drove top line performance are:
  • Higher revenues by €2.9m (+2.4%) from our Technology and Support Services (B2B/B2G) contracts, primarily driven by improved performance in the US. Although service revenue in the US was impacted by lower-scale jackpots compared to prior periods, this was offset by increased equipment sales relatively to 1H24. Additionally, solid results in Argentina and a positive sales trend in Croatia further contributed to the growth.
  • Lower revenues by €2.2m (or -5.9%) from our Management (B2B/ B2G) contracts, mainly driven by Turkish Despite the continued growth of the local online Sports Betting market, revenue performance was impacted by adverse accounting effects related to hyperinflation in the Turkish economy, which contrasted with a positive effect in the same period last year. In addition, higher investment in player acquisition and retention activities also weighed on revenues during the period.
  • Higher revenues by €2.0m (or +32.0%) from our Licensed Operations (B2C) in Argentina, following the recovery in the economic activity that led to the continued strengthening of the local market. In local currency terms, the results for the current period posted a 91.4% y-o-y increase.
• On a quarterly basis, revenues decreased by 4.8% compared to 2Q24, leading to total revenue for the three-month period that started on April 1^st, 2025, and ended on June 30^th, 2025, of

€79.6m.

• Total Operating Expenses decreased by €7.5m (or -13.6%) in 1H25 (€47.6m €55.1m in 1H24) mainly due to lower costs in Turkey. On a quarterly basis, Operating Expenses posted a decrease of €8.5m (or -30.1%) in 2Q25 (€19.7m vs. €28.2m in 2Q24).
• Other Operating Income ended at €15.3m, posting an increase of 4% y-o-y (or €+1.4m). On a quarterly basis, Other Operating Income increased by 6.9% or €+0.5m.
• EBITDA amounted to €60.2m in 1H25, reflecting an increase of 1.2% (or €+0.7m) compared to 1H24. The Group’s performance was supported by the sustained organic growth across key markets, despite the negative effect from the local currency fluctuations against the Euro.
• On a yearly basis, EBITDA margin on revenues marginally decreased to 35.8%, from 36.0% in
• On a quarterly basis, EBITDA posted an increase of €0.7m (or +2.2%), while EBITDA margin on revenues increased by 2.6pps.
• LTM AEBITDA stands at €131.5m, higher by 6% vs. FY24.

EBT / NIATMI

• EBT in 1H25 amounted to €9.8m compared to €6.1m in 1H24, with the variance stemming from lower interest expenses, higher EBITDA and lower reorganization costs, partially offset by the loss due to the hyperinflation indexation. On a quarterly basis, EBT settles at €6.2m, higher by

€5.5m vs. 2Q24.

• NIATMI in 1H25 concluded at €-0.1m €4.6m in 1H24.
• Operating Cash-flow in 1H25 substantially improved to €72.2m compared to €45.0m in The positive effect was mainly driven by the favorable working capital movement and the lower taxes paid.
• CAPEX in 1H25 was €14.2m, increased vs. €11.7m in 1H24, mostly due to higher capital expenditures in US.
• Adjusted Net Debt, as of June 30^th, 2025, stood at €303.0m, reflecting a reduction of €52.7m, while Adjusted Net Leverage Ratio⁴ improved to 3x from 2.7x at year-end 2024, underscoring the company’s enhanced credit profile. The solid financial performance in the first half is evidenced by the generation of €43.5m in Free Cash Flow⁵. During this period, principal repayments on funded debt totaled €19.8m, while net interest payments amounted to €14.6m. Furthermore, other debt movements amounted to €24.1m driven by favorable foreign exchange effects on U.S. dollar-denominated debt.

4 Adjusted Net Leverage Ratio is defined as Adjusted Net Debt to Adjusted EBITDA.

5 Free Cash Flow is defined as “Net Cash from Operating activities” adjusted for “Net Dividends”, “Capex”, “Repayment of leasing obligations”, “Exchange differences” and “Return of Capital to minority shareholders of subsidiary”.

With a relentless focus on technological innovation and strategic partnerships, INTRALOT is well positioned to seize growth opportunities and lead the gaming industry’s evolution. Our global presence in key markets, combined with streamlined operations, enables us to quickly adapt to evolving conditions and unlock new growth avenues. By leveraging cutting-edge gaming technologies, we aim to boost player engagement and deliver long-term value to our partners and shareholders, driving the future of gaming worldwide.

Following the acquisition of Bally’s International Interactive’s online division, expected to close in the fourth quarter of 2025, INTRALOT is expected to enter a new era of strategic transformation. This milestone will position the company as a global leader in the lottery and online gaming sectors, combining Bally’s advanced digital and data-driven capabilities with INTRALOT’s proven technological infrastructure and international lottery expertise. Listed on the Athens Stock Exchange, the newly formed entity will benefit from significantly greater financial scale and operational synergies, enabling it to accelerate innovation, enrich player experiences, and deliver long-term value to stakeholders.

Advertisement

The global macroeconomic environment has entered a period of modest stabilization, though it continues to be marked by elevated volatility driven by shifting trade policies, geopolitical tensions, and tariff uncertainties. For INTRALOT, a company with a broad international footprint in the gaming and lottery sector, these macroeconomic shifts present a range of potential risks. While the industry has historically demonstrated above-average resilience to economic cycles, the resurgence of protectionism could impact operating costs. INTRALOT remains proactive in monitoring these developments, continuously adapting its strategy to navigate this complex environment while safeguarding its global competitiveness and long-term growth potential.

• On April 1, 2025, INTRALOT following its announcement on March 28, 2024, regarding the issuance of a Bond Loan of up to €100 million, with organizers Piraeus Bank and National Bank of Greece, and initial bondholders Piraeus Bank, National Bank of Greece, Optima Bank, and Attica Bank (and the merged entity with the latter, Pancreta Bank), with Piraeus Bank acting as the representative of the bondholders, announced that on March 31, 2025, it signed an agreement to extend the maturity of the loan from June 30, 2025, to January 30, It is noted that, following the payments already made as provided in the terms of the Bond Loan agreement, the outstanding principal amounts currently to €90 million.
• On April 7, 2025, INTRALOT announced that its subsidiary INTRALOT New Zealand Ltd., has signed with the Department of Internal Affairs (DIA) of New Zealand a six-year contract extension from 2026 to 2032, with a one-year further extension option, for the provision of Electronic Monitoring System (EMS) solution for Class 4 (non-casino) electronic gaming machines. In parallel, DIA has exercised its right to utilize the one-year extension option in the current EMS Service Agreement with INTRALOT New Zealand for continued supply of the EMS, extending the agreement from 10 May 2025 to 10 May 2026.
• On April 16, 2025, INTRALOT announced that its S. subsidiary INTRALOT, Inc. has extended its gaming systems contract with the New Hampshire Lottery Commission for an additional seven years, ensuring continued cutting-edge technology and high-quality services support through September 2033.
• On June 26, 2025, INTRALOT announced that its U.S. subsidiary INTRALOT, Inc., and the Idaho Lottery have agreed to a 10-year contract extension, which will officially take effect in September
• On July 1, 2025, INTRALOT and Bally’s Corporation announced that their respective Boards of Directors approved their entry into a definitive transaction agreement (“Transaction Agreement”) pursuant to which INTRALOT will acquire Bally’s International Interactive business (the “International Interactive Business”) in a cash-and-shares transaction that values the International Interactive Business at an enterprise value of €2.7 billion (the “Transaction”).
• On July 21, 2025, INTRALOT, further to its announcements dated 1 July 2025 regarding the acquisition of Bally’s International Interactive business and dated 3 and 15 July 2025 regarding the granting of permission for the conclusion of the above related party transaction, announced to the investing public that on 18 July 2025 it has signed the definitive transaction agreement with Bally’s Corporation for the above acquisition.
• On August 6, 2025, INTRALOT posted on ATHEX as so as on its website the Reasoned Opinion

of its BoD regarding the mandatory Tender Offer of the company “PE SUB HOLDINGS, LLC”.

• On August 28, 2025, INTRALOT announced that INTRALOT, Inc., has been awarded a new contract to provide the Montana Lottery with a next-generation lottery operating system and related services including continued support for its Sports Bet Montana wagering The new contract award marks the third contract between INTRALOT and the Montana Lottery, extending a nearly 20-year partnership. The new agreement spans seven years with three one- year extension options.

INTRALOT Parent Company results

• Revenues for the period increased by 4%, from €15.3m in 1H24 to €18.0m, with the increase driven primarily by higher recharges to Group subsidiaries.
• EBITDA shaped at €-0.4m from €-2.0m in 1H24, with the positive variance coming mainly from the increased revenues.
• Earnings after Taxes (EAT) at €-8.0m from €-6.8m in 1H24 triggered by lower income from investing activities and higher interest expenses, in part counterbalanced by higher revenues.

Sokratis Kokkalis, Chairman, Nikolaos Nikolakopoulos, Group CEO, Chrysostomos Sfatos, Group Deputy CEO, Andreas Chrysos, Group CFO, Georgios Xanthos, Group Tax & Accounting Director, Antonis Skiadas, Group Finance, Controlling & Budgeting Director and Michail Tsagalakis, Capital Markets Director, will address INTRALOT’s analysts and institutional investors to present the Company’s First Half 2025 results, as well as to discuss the latest developments at the Company.

The financial results will be released on the ATHEX website (www.athexgroup.gr) and will be posted on the company’s website (www.intralot.com) on Friday, August 29th, 2025 (before the opening of the ATHEX trading session).

AGENDA: Brief Presentation – Question and Answer Session CONFERENCE CALL DETAILS

	Date: Friday, August 29th, 2025 Advertisement Time: Greek time 17:00 – UK time 15:00 – CET 16:00 – USA time 10:00 (East Coast Line)
	Conference Phone GR	+ 30 211 180 2000
	Conference Phone GR	+ 30 213 009 6000
	Conference Phone GB	+ 44 (0) 203 059 5872
	Conference Phone GB	+ 44 (0) 800 368 1063
	Conference Phone US	+ 1 516 447 5632
	We recommend that you call any of the above numbers 5 to 10 minutes before the conference call is scheduled to start.

LIVE WEBCAST DETAILS

The conference call will be available via webcast in real time over the Internet and you may join by linking at the internet site:

DIGITAL PLAYBACK

There will be a digital playback on August 29th, 2025, at 19:00 (GR Time).

Advertisement

This Service will be available until the end of the business day September 9th, 2025.

Please dial the following numbers and the PIN CODE: 059 # from a touch-tone telephone: Digital Playback UK: + 44 (0) 203 059 5874

Digital Playback US: + 1 631 257 0626

Digital Playback GR: + 30 210 946 0929

In case you need further information, please contact Intralot, Mr. Antonis Mandilas, at the telephone number:

Advertisement

+30 213 0397000 or Chorus Call Hellas S.A., our Teleconferencing Services Provider, Tel. +30 210 9427300.

Group Statement of Comprehensive Income

(in € million)	1H25	1H24	% Change	2Q25	2Q24	% Change Advertisement	LTM
Revenues	168.0	165.3	1.7%	79.6	83.6	-4.8%	358.3
Gross Profit	57.7	65.6	-12.0%	25.6	32.7	-21.7%	133.5
Other Operating Income	15.3	13.9	10.4%	7.7	7.2	6.9%	31.4
OPEX	(47.6)	(55.1)	-13.6%	(19.7)	(28.2)	-30.1%	(110.0)
EBITDA	60.2	59.5	1.2%	30.0	29.4	2.2%	125.4
AEBITDA	60.2	59.5	1.2%	30.0	29.4	2.2%	131.5
AEBITDA Margin %	35.8%	36.0%	-0.1pps	37.8%	35.2%	+2.6pps	36.7%
Reorganization expenses	(0.4)	(1.3)	-65.3%	(0.4)	(0.3)	53.8%	(1.6)
D&A	(34.8)	(35.2)	-1.1%	(16.5)	(17.7)	-7.1%	(70.5)
EBIT	25.0	23.0	8.5%	13.1	11.4	15.4%	53.3
Interest and related expenses (net)	(14.4)	(22.0)	-34.6%	(6.6)	(12.9)	-49.3%	(33.5)
Exchange differences	0.0	0.5	-90.1%	(0.4)	0.4	–	0.1
Other	(0.9)	4.5	–	0.1	1.8	-96.5%	1.8
EBT	9.8	6.1	61.4%	6.2	0.7	810.0%	21.8
NIATMI	(0.1)	4.6	–	0.5	0.7	-34.0%	0.2

Group Statement of Financial Position