The new appointment is the latest step amidst Intralot’s restructuring efforts. The gaming and lottery technology provider severely underperformed last year, but several promising high-profile agreements may herald substantial improvements. Bateson’s extensive industry experience and history of success may be just what the company needs to get back on its feet.
In December, Intralot SA posted dismal Q3 results, recording a 65.8% drop in profit year-to-date. Despite the disappointing financials, the company’s management remained optimistic, pointing to the positive effects of its ongoing re-organization efforts. Furthermore, rising inflation, interest rate hikes, and economic instability likely harmed Intralot’s bottom line.
Despite such ongoing challenges, the lottery provider continues to pursue expansion opportunities. In December 2022, the company penned a 5-year sports betting contract with the Ohio Lottery Commission, pledging to provide retailers and customers in the state with its critically-acclaimed solutions. February saw another vital milestone for Intralot as the company partnered with NeoGames to enhance Brazil’s Loteria Mineira.
The recent successes are a breath of fresh air for Intralot as the company tries to regain momentum. February’s change of CEO had Nikolakopoulos Nikos take the reins, hoping to capitalize on his vast management experience. With Richard Bateson stepping in as CCO, Intralot is ready to capitalize on its favorable position.
The New CCO Should Be a Valuable Addition
Bateson’s extensive experience in the lottery industry makes him a perfect fit for the position. He spent most of his career with Camelot, which managed the UK national lottery. Over his tenure there, he rose to the international senior vice president, honing his skills across both sides of the Atlantic.
The new CCO’s resume also includes several other lottery-related advisory positions with companies like Jumbo Interactive and Teneo, culminating with his tenure as executive director appointment at management consulting service provider Hector Consulting. Bateson has over 20 years of relevant experience, which should prove invaluable in his new position.
Bateson is well-respected across the gaming industry. In 2022, he partnered with the European Lotteries, lending his vast industry knowledge to the next generation of lottery talent. He also recently attended ICE London 2023, staying in touch with the most recent gaming technology developments.
Bateson will report directly to CEO Nikolakopoulos as the developer focuses on the booming US market, seeking further expansion. Successful partnerships with retail sportsbooks are instrumental to these goals. With more states legalizing sports betting, Intralot should have more opportunities to repeat its Ohio successes and build its reputation.