OPAP reports €199.4m profit for 2020

The Greek gaming operator OPAP has reported profit of €199.4m in its 2020 annual report, a decline of 1 per cent compared to 2019.

Greece.- Despite the pandemic crisis, the Greek gaming operator OPAP has reported profit of €199.4m.

According to the Greek gambling regulator, OPAP’s gross gaming revenue (GGR) and net gaming revenue (NGR) fell to €1.12bn and €737m respectively, a decline of 30 per cent and 32 per cent from 2019 due to the impact of retail closures.

However, the company reported profit of €199.4m, down by only 1 per cent from 2019.

The group achieved GGR of €42m for online betting and €23.9m for other online games. Lottery remained its main source of income, generating GGR of €518.6m and NGR of €551.4m.

The company said: “Despite the coronavirus impact, the group maintains a strong financial position. OPAP has implemented a number of measures to ensure normal operations that will also safeguard a quick ramp‐up of the business once limitations will be released and stores will re‐open.”