INTRALOT announces that the Nanum Lotto consortium, in which the Company participates, following an international tender won an exclusive license to operate South Korea's National Lottery's lotto games, which currently have a turnover of approximately $2.5 billion annually. The duration of the license is five (5) years and operations will commence on December 2nd, 2007. The games will be offered through a total of 9,000 online terminals.
South Korea has a population of 50 million, with a healthy per capita GDP in the mid-20,000 USD, has exhibited strong GDP growth of approximately 5% and a very low unemployment rate of 3.3%.
The Nanum Lotto consortium, in which INTRALOT is a minority shareholder and is composed by Eugene Group, LG CNS, NH Bank, KTeMS, Angel Lotto and Samseong.
Moreover, INTRALOT will have two significant roles in this project: it will be the main provider of the necessary technology for the implementation of this project, which entails the procurement and installation of 9,000 CORONIS HEE & microLOT terminals, their peripherals and the technologically advanced core operating system 'LOTOS' and the lottery services provider to the consortium.
INTRALOT S.A. CEO, Mr. Constantinos Antonopoulos stated: We are very pleased to have been awarded this contract in S. Korea as members of a consortium composed of world-call leading companies and I would like to congratulate all our partners for their excellent work. The successful license award by the Korean Lottery Committee proves once again INTRALOT's leading position in the gaming industry. We commit to provide superior and state-of-the-art gaming solutions to S. Korea, one of Asia's most technologically advanced countries. We are confident that the Lottery has great growth potential and Nanum Lotto consortium will contribute to the Lottery's further development and profitability to the benefit of all the stakeholders.