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Unmasking Spinmatic’s latest game: 9 Masks of Voodoo
Spinmatic, B2B developer and supplier of outstanding casino games, is excited to announce the release of its latest game, 9 Masks of Voodoo. Set deep within the Caribbean jungles, this game offers players a captivating experience filled with mystery, ancient magic, and the promise of legendary treasures. Guided by the enigmatic high priestess of a mysterious Voodoo cult, 9 Masks of Voodoo plunges players into a mystical world where powerful spirits and hidden riches await those daring enough to explore the depths of the jungle.
9 Masks of Voodoo features a straightforward 5×3 reel setup with 20 fixed paylines, making it accessible to a wide range of players. However, beneath its simplicity lies an exciting and dynamic gaming experience, driven by the collection of mystical Voodoo masks. With an innovative Scatter pay’s feature, players will get automatic rewards when obtaining three to nine masks on any reels. The more masks, the rewards get bigger and better!
Players can trigger the Mini Jackpot with seven masks, unlock the Midi Jackpot with eight, and claim the Maxi Jackpot the top prize up to 176,000 Euros by landing all nine masks.
Adding to the thrill, the game offers a Free Spins with Multiplier round, activated when players land Free Spin Scatter symbols on reels 1, 3, and 5. A double spin wheel then determines the number of Free Spins (ranging from 5 to 30) and the multiplier (ranging from x2 to x5) applied to their winnings. During Free Spins, the Voodoo masks continue to pay out without being affected by the multipliers, making every spin potentially rewarding.
Visually, 9 Masks of Voodoo immerses players in a richly detailed environment that enhances the overall gaming experience. The reels are bathed in an eerie glow, with symbols pulsing with the magic of the Voodoo theme. The backdrop blends mystery and allure, featuring a stone hut with a bubbling cauldron and a starry night sky. creating a setting where the line between reality and magic blurs.
The post Unmasking Spinmatic’s latest game: 9 Masks of Voodoo appeared first on European Gaming Industry News.
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Favbet × Spinner: An Exclusive Live Studio That Has Already Gained Recognition in Ukraine
Ukraine now has its first full-fledged Ukrainian-language live product, created by local specialists for local players.
The format combines modern technology with national identity, turning gameplay into a space where native language is heard from the very first moment.
Favbet opened a new opportunity for the market in the live segment. Without waiting for audience demand, the company shaped it itself, introducing its own branded live studio powered by Spinner. This proactive step secured Favbet’s reputation as an innovator that sets standards and creates trends.
The project was entrusted to Spinner — a modern and ambitious B2B provider with Ukrainian DNA and technological expertise, capable of delivering a fully branded studio in the state language. The partnership united shared values, high standards, and a clear understanding that players choose content closest and most relatable to them.
The studio’s atmosphere reflects Ukrainian character and hospitality. Hosts communicate in a relaxed manner, respond in real time, keep conversations flowing, and add light humor. It is a place players come not only for the game but also for live interaction and a sense of community.
Deep customization, Ukrainian-speaking hosts, and instant support create the comfort level every Favbet user deserves. Demand has grown so rapidly that in just one year the number of tables doubled from six to twelve.
Most importantly, these games are available exclusively on Favbet’s website and mobile applications.
Favbet × Spinner made Ukrainian the foundation and raised the quality bar to the level of global best practices.
PARTICIPATION IN GAMBLING CAN LEAD TO ADDICTION. PLEASE FOLLOW RESPONSIBLE GAMING PRINCIPLES.
License for online casino operations dated 20.04.2021 issued to LLC “BC Favbet” under CRGL Decision No. 137 of 05.04.2021 (as amended), and license for bookmaking operations dated 28.12.2022 issued to LLC “BC Favbet” under CRGL Decision No. 433 of 13.12.2022.
The post Favbet × Spinner: An Exclusive Live Studio That Has Already Gained Recognition in Ukraine appeared first on European Gaming Industry News.
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INTRALOT delivers steady EBITDA performance at €60.2m and strong Operating Cash Flow generation of €72.2m in 1H25
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 %
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.
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 30th, 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 1st, 2025, and ended on June 30th, 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 30th, 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.
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.
| (in € million) | 1H25 | 1H24 | % Change | LTM |
| Revenues | 18.0 | 15.3 | 17.4% | 47.2 |
| Gross Profit | 4.6 | 2.1 | 120.1% | 16.7 |
| Other Operating Income | 0.3 | 0.2 | 52.4% | 0.5 |
| OPEX | (10.0) | (9.5) | 5.8% | (20.3) |
| EBITDA | (0.4) | (2.0) | -82.3% | 6.6 |
| EAT | (8.0) | (6.8) | 17.8% | (12.4) |
| CAPEX (paid) | (2.2) | (5.2) | -58.2% | (5.4) |
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
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).
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:
+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 |
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
| (in € million) | 1H25 | FY24 |
| Tangible Assets (incl. investment properties) | 71.6 | 86.8 |
| Intangible Assets | 159.3 | 179.5 |
| Other Non-Current Assets | 59.0 | 62.0 |
| Inventories | 20.8 | 26.4 |
| Trade and Other Short-term Receivables | 139.8 | 155.3 |
| Cash and Cash Equivalents | 66.7 | 64.3 |
| Total Assets | 517.2 | 574.3 |
| Share Capital | 181.2 | 181.2 |
| Share Premium | 122.4 | 122.4 |
| Other Equity Elements | (278.3) | (274.1) |
| Non-Controlling Interests | 22.3 | 25.9 |
| Total Shareholders’ Equity | 47.6 | 55.4 |
| Long-term Debt | 280.6 | 310.5 |
| Provisions/ Other Long-term Liabilities | 20.4 | 22.3 |
| Short-term Debt | 119.6 | 133.6 |
| Other Short-term Liabilities | 49.0 | 52.5 |
| Total Liabilities | 469.6 | 518.9 |
| Total Equity and Liabilities | 517.2 | 574.3 |
| (in € million) | 1H25 | 1H24 |
| EBT | 9.8 | 6.1 |
| Plus/less adjustments | 49.7 | 54.4 |
| Decrease/(increase) of inventories | 3.0 | (5.6) |
| Decrease/(increase) of receivable accounts | 11.4 | 1.9 |
| (Decrease)/increase of payable accounts | (1.1) | (8.9) |
| Income tax paid | (0.5) | (3.0) |
| Net Cash from Operating Activities | 72.2 | 45.0 |
| CAPEX | (14.2) | (11.7) |
| (Purchases) / Sales of subsidiaries & other investments | – | (3.1) |
| Interest received | 1.1 | 2.1 |
| Dividends received | – | 0.2 |
| Net Cash from Investing Activities | (13.1) | (12.5) |
| Restricted cash related to financing activities | (6.4) | (24.0) |
| Return of Capital to minority shareholders of subsidiary | (0.2) | (0.3) |
| Cash inflows from loans | – | 235.4 |
| Repayment of loans | (19.8) | (235.3) |
| Bond issuance costs | – | (6.2) |
| Repayment of leasing obligations | (3.7) | (3.3) |
| Interest and similar charges paid | (15.7) | (17.8) |
| Dividends paid | (3.9) | (5.9) |
| Reorganization costs paid | (0.2) | (0.6) |
| Net Cash from Financing Activities | (50.0) | (58.0) |
| Net increase / (decrease) in cash for the period | 9.1 | (25.6) |
| Exchange differences | (6.7) | (1.0) |
| Cash at the beginning of the period | 64.3 | 111.9 |
| Cash at the end of the period from total operations | 66.7 | 85.4 |
| Cash at the end of the period from total operations including restricted cash for financing activities and debt repayments | 97.3 | 109.4 |
The post INTRALOT delivers steady EBITDA performance at €60.2m and strong Operating Cash Flow generation of €72.2m in 1H25 appeared first on European Gaming Industry News.
The post Women experience guilt, shame and exclusion in gaming culture, study finds appeared first on European Gaming Industry News.
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