OPAP announces dividend after 10% rise in revenue
The Greek gambling operator will pay €1.40 per share.
Greece.- The Greek gambling operator OPAP has announced a dividend payment totalling €500m after reporting a 10 per cent rise in revenue to €2.29bn for full-year 2024. A dividend of €0.80 per share will be paid in May 2025 for a total dividend reward of €1.40 per share.
EBITDA for 2024 was €832m, up from €745m in 2023, and net profits rose by 18.8 per cent to €485m. OPAP’s core lottery division contributed a third of revenue, generating €774m (up 6 per cent, in part thanks to rollovers on the Tzoker lottery draws). Sports betting revenue was €746m, up 15 per cent. The majority (57 per cent) still came via retail. The online casino unit saw revenue rise by 29 per cent to €325m.
The final quarter delivered record revenue of €647m and EBITDA of €245m.
Group CEO Jan Karas said: “Q4 2024 was exceptional for OPAP, marked by record-breaking GGR and the highest recurring EBITDA of the past decade. The quarter wrapped up a highly successful year and resulted in the outperformance of our latest outlook.
“In line with our commitment to delivering value to OPAP’s shareholders, we are delighted to propose to the upcoming AGM a total shareholder remuneration of €1.40 per share for 2024 through the distribution of a remaining dividend of €0.80 per share in May, on top of the already paid interim dividend of €0.60 per share.”
OPAP noted that it has refinanced €390m in loans, extending maturities to 2031–2032. For 2025, it forecasts low single-digit growth in GGR and an EBITDA margin of around 35 per cent.
Karas said: “Going forward, always having customers in mind, we are consistently focusing on providing exciting and innovative experiences in a seamless way across retail and online, leveraging technology to stay ahead of the game. This way, we are confident that we will meet our goals of maintaining steady growth and profitability, rewarding our shareholders, and meeting our sustainability and social responsibility commitments.
