Greece's Intralot in discussions with foreign funds for further US expansion |
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Wed, 18 Apr 2007 13:32
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ATHENS (Thomson Financial) - The CEO of Greek betting technology company Intralot, Constantinos Antonopoulos, said at the company's AGM today that they were in discussions with foreign funds to finance the companys expansion to more state lotteries in the United States.A broker that did not want to be named told Thomson Financial News that Intralot was looking to team up with funds of significant financial clout because some of the upfront fees for US tenders can reach 10 bln usd.Intralot already has a presence in Nebraska and Idaho and is eyeing several possibilities, including some in Illinois and Texas, the analyst added.Intralot also said that they would be intensifying their international activities and quickly resolving problems that had occurred in some markets - such as Turkey and South Africa.The company issued guidance that 2007 turnover would be up 11.2 pct to 880 mln eur and net profits would rise 10 pct to 115 mln eur.The president of Intralot, Socrates Kokkalis, said at the AGM that local lottery operator OPAP's delay in progressing with its IT and terminals tender was unreasonable but was not the fault of his company, which has submitted a competitive and technically superior bid. The other two bidders in the tender are Scientific Games and GTech.The AGM also approved the distribution of a total dividend of 0.66 eur per share for fiscal 2006, which is 20 pct higher than the 2005 dividend, as had been anticipated.Source: Euro2day.gr NewsWirenick.skrekas@thomson.comns/ambCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Greek OPAP to make decision on key aspect of IT, terminal tender today - sources 