Intralot secures approval for 150 million euros bond

In an announcement to the Greek Stock Exchange Thursday, Intralot said that 93% of shareholders had voted to authorise the company's Board to issue the convertible bond loan, if the conditions in the financial market were favourable to the company. The duration of the bond loan will be up to seven years and up to a maximum of 150 million euros.

Last month Intralot launched Intralot Interactive, a new business division to capitalise on the company's global reach to provide gaming technology to lotteries and state organizations worldwide, as well as exploiting licensing opportunities in liberalised markets.

The company said that it would form new alliances for major privatization projects and monitor new opportunities for acquisitions. Already as part of its new strategy, Intralot signed an exclusive agreement with PartyGaming earlier this year, looking to exploit online gaming opportunities in specific markets around the world, starting with Italy.

Intralot's increasing focus on the interactive gaming market has intensified competition with rival Gtech, which has been increasing its own presence in the space following the acquisition of Boss Media, St Minver and Finsoft.

Gtech has recently won contracts with Belgium's national lottery, La Loterie Nationale, and Société de la Loterie de la Suisse Romande to implement a comprehensive new interactive gaming platform for the lotteries, allowing a range of traditional lottery games to be launched online.