Intralot Extends Contract with Morocco’s MDJS Until 2025

Intralot has enjoyed a long-standing relationship with MDJS, serving as its gaming provider since 2010. Under this new extension, Intralot will maintain its role in operating MDJS's lottery games, which include popular titles like Tifo and Chrono.

In March 2021, Intralot and MDJS agreed to shorten an eight-year contract signed in 2019, originally set to conclude in December 2022. Despite MDJS initiating a tender for a new supplier in January 2022, a one-year extension was reached with Intralot in March 2022. This latest announcement extends their partnership further, demonstrating the enduring collaboration between the two companies.

Intralot reported a return to net profit for Q3 in November 2023, with gross gaming revenue (GGR) increasing by 2.2% year-on-year to €5.6 million. However, the company also experienced a significant decrease in consolidated turnover, primarily due to the expiration of its Malta license in July 2022, resulting in a GGR loss of €43.9 million.

This decline in revenue raised concerns about Intralot's ability to meet its 2024 bond obligations. To address this issue, Intralot issued €135 million in new shares, but the Q3 report highlighted that the company lacked sufficient cash resources to cover most of its debt.

Despite these challenges, Intralot's Q3 revenue showed promising growth, increasing by 8.1% compared to the same period the previous year. Additionally, EBITDA rose to €101.0 million for the first nine months of the year, marking a 14.7% increase compared to 9M22. Intralot attributed this growth to successful operations in Turkey, Croatia, Taiwan, and the United States.