After picking up contracts in Guatemala and the Dominican Republic, Intralot S.A. has announced its subsidiary Intralot Jamaica has acquired a contract and will launch fixed odds betting operations in the country.
Under the contract, Intralot Jamaica will undertake operations of local market fixed odds betting, including the terms of the central system, the microLOT terminals, risk management and other supporting services, which are all subject to regulatory approval of the Betting and Gaming Lotteries Commission.
Intralot had originally signed a contract with Big “A” Track Limited, which holds a license to operate fixed odds betting. Big A has been acquired by Supreme Ventures Ltd., or SVL, and will be cooperating with Intralot on the project. Intralot said it expects revenues from the management fee to reach $140 million during the contract term, which is 10 years.
“Our new contract and acquisition of SVL shares paves the way to the Caribbean region,” said Constantinos G. Antonopoulos, Intralot’s chief executive, in a prepared statement. “With this new project we enter a new exciting territory, and we are optimistic that in a short period of time we will manage to further expand our presence in the area.”