Q3 2025 Intralot Integrated Lottery Systems and Services SA Earnings Call Transcript
Key Points
- Intralot SA (FRA:9IL) delivered strong third quarter results with a 43% adjusted EBITDA margin, aligning with their guidance.
- The company completed a significant transaction with Bally's International Interactive, resulting in a combined annualized revenue of over EUR1 billion.
- Intralot SA (FRA:9IL) plans to implement aggressive mitigation strategies to counteract the impact of increased UK gaming taxes.
- The company is exploring opportunities for market consolidation, which could enhance its market share and competitive position.
- Intralot SA (FRA:9IL) is considering a share buyback program, indicating confidence in its financial stability and future growth prospects.
- The UK government's increase in remote gaming duty from 21% to 40% will delay Intralot SA (FRA:9IL)'s growth plans by one year and impact EBITDA by 4%.
- The company faces FX headwinds, particularly affecting markets in the United States and Turkey, leading to a reported revenue deficit.
- Revenue for the third quarter declined by 11.8% year-over-year, with slower growth in Turkey and Argentina contributing to this decline.
- The increased UK gaming tax is expected to result in a EUR95 million impact on EBITDA, necessitating significant cost-cutting measures.
- Intralot SA (FRA:9IL) anticipates a challenging competitive environment due to the tax changes, which may lead to market consolidation and pressure on smaller operators.
Ladies and gentlemen, thank you for standing by. I am Nina, your courses call operator. Welcome and thank you for joining the Intralot conference call and live webcast to present and discuss the third quarter 2025 financial results. All participants will be in a listen-only mode, and the conference is being recorded. (Operator Instructions)
At this time, I would like to turn the conference over to Mr. Robeson Reeves, CEO of Intralot. Mr. Reeves, you may now proceed.
Thank you, operator, and thank you all for joining us today for the Q3 results of Intralot . The transaction completed in October 2025 to bring together Bali's International Interactive and Intralot. As you will have seen, Intralot has delivered strong third quarter results despite FX headwinds.
Bally's International Interactive has delivered around EUR548 million in revenue with a hefty 43% adjusted EBITDA margin for Q3, which is on track with our stated guidance.
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