International Game Technology PLC to Host First Quarter 2019 Results Conference Call on Monday May 20 2019
Conference call details: Monday, May 20, 2019 8:00 a.m. EDT
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Conference call details: Monday, May 20, 2019 8:00 a.m. EDT
INTRALOT Group Chairman & CEO Sokratis P. Kokkalis noted: “The reported revenue and earnings contraction during 2018 points to the need for a wide re-organization of our production and operational capabilities towards significant cost reductions and operational efficiencies. This is why we recently conducted a management reshuffle in order to design and implement a new cost-reduction plan through better synergies between divisions and between headquarters and subsidiaries. I am personally committed and focused on our mission to best address the needs of our clients and to improve the cash flow generation of our business through a combination of new business and organic growth opportunities, coupled with cost optimization, while continuing disinvestments from non-core assets when market conditions are favorable.”
“2018 marked the 60th anniversary of OPAP’s foundation and the entire OPAP team is proud of what was achieved in this historic year, commented OPAP’s CEO, Mr. Damian Cope."
“Consistent with INTRALOT’s strategy of disinvesting from its non-core markets and focusing on the group’s strategic markets, such as the USA, we are very glad we can safeguard Totolotek’s continued growth within the strong Gauselmann Group and its European-market-focused sports-betting division Merkur Sportwetten. In my view, this transaction will create value for all involved parties – Gauselmann, Totolotek and INTRALOT – which was fundamentally important from INTRALOT’s point of view when deciding to proceed with this transaction,” explains Andreas Chryssos, CFO of INTRALOT Group, summing up the acquisition of Totolotek by Merkur Sportwetten.
"Our 2018 results are in line with the improved outlook we provided in October. The year was characterized by strong global Lottery performance, resilience in Italy, and progress in North America Gaming," said Marco Sala, CEO of IGT. "We've established solid foundations to build on – securing large, long-term Lottery contracts in key markets and executing a full refresh of our gaming machine cabinet and content portfolio. These efforts will translate into improved free cash flow beginning in 2019."
Barry Cottle, CEO and President of Scientific Games,: said “This is a very exciting time for Scientific Games. We’re focused on developing the best games and the most innovative platforms to deliver outstanding gaming experiences wherever and whenever players choose to play. “We are building momentum and continuing to grow our business while at the same time operating more efficiently. The entire organization is enthused about 2019 and focused on helping our customers win, which will drive our free cash flow and create meaningful value for our shareholders.”
President and CEO Olli Sarekoski: ”In 2018 Veikkaus prepared for major changes in its operating environment. Gaming is shifting from the points of sale towards the digital channel, where Veikkaus also faces competition from foreign operators. Veikkaus must develop its operations to succeed in international competition. Succeeding in the competition and ensuring our ability to channel gaming also provide the basis for the exclusive right and its continuation. We want to be able to provide games responsibly even in the future, minimizing game-related harm and channelling gaming revenue to the benefit of Finnish people.