Intralot SPA has informed its shareholders that company founder and executive chairman Sokratis Kokkalis has been reinstated as Group CEO effective immediately.
The gambling technology and lottery systems provider issued a statement on the Athens Stock Engage disclosing that majority shareholder Kokkalis had retaken leadership of the firm, replacing Christos K. Dimitriadis as CEO.
The filing stated that Intralot had transferred Dimitriadis who had served as Group CEO since March to a ‘new role focused on US opportunities’.
Following a dire 2019 in which Intralot lost lucrative sportsbook and technology concessions in Turkey, Kokkalis led a group-wide strategic review, overhauling the firm’s executive leadership team across all operating units.
The start of 2020 saw Kokkalis end his interim CEO tenure, appointing Dimitriadis as new CEO. He has been tasked with leading the firm’s ongoing transformation programme, choosing to refocus Intralot on its revenue-effective technology services whilst pursuing opportunities within new markets and prioritising US growth prospects.
Intralot did not disclose any information on Dimitriadis’ new US role. The firm’s North American operations are led by Byron Boothe, who was appointed as US CEO this summer following back-to-back sportsbook wins in Montana and Washington DC.
Despite progress on its US agenda, Intralot declared group losses of €43 million in its 2020 interim statement which saw the technology group report COVID-19 impacts across its entire value chain.