Intralot has solidified its partnership with Malaysia’s Magnum Corporation by signing a new seven-year agreement to extend its role as the company’s technology supplier. This new deal follows Magnum Corporation’s international call for tenders in 2022 and includes the potential for two five-year extensions, allowing the partnership to last up to 17 years.
As part of the agreement, Intralot will assist Magnum Corporation in transitioning its retail gaming platform to the LotosX Omni ecosystem. This comprehensive system includes multiple player and operational platforms, such as the LotosX Central Gaming System and the PlayerX Player Account Management System, enabling Magnum to integrate its retail and digital offerings under one omnichannel strategy.
Dato’ Lawrence Lim Swee Lin, CEO of Magnum Corporation, expressed enthusiasm for the continued collaboration, noting that it will enhance the overall gaming experience. He said, “Magnum Corporation is proud to continue this partnership with Intralot, a steadfast ally in helping us grow our business and innovate the gaming experience for our customers. Together, we are crafting a future of innovation with enhanced personalization and security for our players.”
Marios Mitromaras, CEO of Intralot Australia, echoed these sentiments, emphasizing the strength of the partnership and its potential to elevate the gaming experience. “We are very pleased to keep working with Magnum Corporation. Our continued collaboration is built on trust, understanding, and a shared commitment to elevating gaming excellence.”
This agreement with Magnum Corporation comes on the heels of several major moves by Intralot in 2023. In June, the company secured a deal to supply system technology to Taiwan’s Public Welfare Lottery and entered a sports betting partnership with the British Columbia Lottery Corporation (BCLC).
Despite a slight dip in revenue for the first half of 2023, Intralot saw its EBITDA increase by 14%, reaching €62.8 million. Additionally, the company’s subsidiary, Intralot Capital Luxembourg, announced a partial redemption of senior notes totaling €126 million, while also issuing €135 million in new shares in November.
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