Intralot’s expansion in U.S. continues

Greek lottery systems supplier Intralot signed a two-year contract to operate Ohio Lottery's gaming system, in its sixth deal in the U.S. market. Previously the Greek company signed contracts in Nebraska, Montana, Idaho, New Mexico and South Carolina.

No financial details were provided.

Intralot said its subsidiary, Intralot Inc, would provide 10,800 terminals in a contract that could be renewed for up to eight more years.

"Our proposal was ranked number one among major vendors, confirming our leading position in the gaming industry and in particular the U.S. lottery market," Intralot CEO Constantinos Antonopoulos said in a statement.

Analysts estimate the deal could translate into revenue of about $300 million euros for Intralot over a 10-year period.

Its shares were up 3.36 percent at 11.68 euros in early trade on the Athens bourse, outperforming a 1.02 percent broader market rise.

Intralot is a Greek company, specialising in gambling infrastructure that originally provided infrastructure for the national lottery in Greece. It has now expanded its operations to, or is under contractual obligation to do so, in Israel, Chile, Russia, Romania, Bulgaria, Malta, United States of America, the Republic of Macedonia and many other countries.

Intralot is an affiliate of the Intracom Group. Intracom is a Greek technology company, specialising in telecommunications. It is owned by Socrates Kokkalis, who also owns other major businesses in Greece. Also Mr.Demetriades has a large stake in Intralot as well as in the Intracom group.