OPAP GGR revenue rises 5.5% in H1
The Greek gambling operator has reported GGR of €1.08bn
Greece.- The Greek gambling group OPAP has reported that gross gambling revenue reached €1.08bn in H1, an increase of 5.5 per cent year-on-year. Lottery sales were up by 1 per cent at €373m, while online units contributed 30 per cent of all GGR.
Online casino was the biggest growth driver, generating €140m, a rise of 29 per cent. Sports betting GGR reached a record €350m on the back of Euro 2024. Meanwhile, VLT revenues remained flat at €166m.
Operating profits increased by 6 per cent to €450m while operating expenses rose by 16 per cent to €213.9m. EBITDA was down 0.5 per cent at €373m due to one-off finance items related to OPAP’s new gaming concession in Cyprus. Net profit was up 3 per cent at €232m.
OPAP has been moving its lottery business to a new model around the draw-based Hellas Lotto, Tzoker and Eurojackpot.
Group CEO Jan Karas said: “Following a solid start to the year, Q2 2024 proved to be another strong quarter with positive results for OPAP, mainly driven by sports betting activity, which was significantly boosted during the Euro 2024 tournament. Our new game Eurojackpot continued its upward trend, playing a key role in the overall transformation of draw-based games.
“Looking ahead, we are confident that OPAP is well-positioned to achieve its financial and strategic goals for FY2024, as well as to meet its sustainability and social responsibility priorities, and to continue to deliver tangible value to all its stakeholders.”
