Bloomberg News

Intralot Preferred Bidder in West Australian Lottery (Update3)

August 21, 2006

Intralot SA, the world's third-largest gaming technology and services company, was named the preferred bidder for a contract to help run Western Australia's regional lottery.

Lotterywest, the state lottery of Western Australia, and Intralot will agree on the details of the contract in the next few weeks, Athens-based Intralot said today in an e-mailed statement. The value of the contract was not given.

Intralot is seeking foreign lottery business to reduce its reliance on Athens-based Opap SA, the lottery and betting operator that is the world's third-largest publicly traded gaming company. On Aug. 1, Intralot won a contract to run South Africa's national lottery and last month was awarded a contract to run Hamburg's state lottery.

Shares of Intralot rose 1.60 euros, or 7.3 percent, to 23.58 euros in Athens. The gain was the biggest in more than two months. The company has a market value of 1.83 billion euros ($2.3 billion).

Intralot will provide betting terminals for Lotterywest outlets and other hardware needed for the regional lottery, according to a statement by the World Lottery Association on its web site. Intralot's system will be operational in 2008 and the company beat out submissions from "all major suppliers of gaming systems,'' the association said, citing Lotterywest.

Sales of Lotterywest amounted to about 520 million Australian dollars ($397 million) in 2005, according to the Lotterywest web site.

To contact the reporter on this story: Joyce Gatsoulis in Athens at jgatsoulis@bloomberg.net.

To contact the editor responsible for this story: Kimberly Lohoar at klohoar@bloomberg.net.


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