OPAP reports strong Q2 performance

OPAP has reported its Q2 results
OPAP has reported its Q2 results

The Greek operator’s quarterly revenue was €345m.

Greece. OPAP has reported revenue of €345m for Q2. That’s an increase of 13 per cent year-on-year. EBITDA was up 7 per cent at €178m and net profit 35 per cent at €106m. Gross gaming revenue rose 13 per cent to €498.

The Greek multichannel operator attributed the rise to both its online business and retail. Lottery revenue was up 8 per cent at €178m (€165m) and sports betting revenue 14 per cent at €152m. Online casino revenue rose most, climbing 38 per cent to €58m, scratch lottery rose 12 per cent to €30m and video lottery terminal (VLT) revenue climbed 9 per cent to €81m. For the first half of the year, GGR was up 14 per cent at €1bn.

OPAP CEO Jan Karas said: “The second quarter of 2023 was another quarter of positive performance for OPAP, characterised by strong profitability, the successful implementation of our strategic initiatives and the continued evolution of our customer proposition.

Karas added: “As far as our retail network is concerned, in the second quarter of 2023, our renewed offer for Pame Bet stood out, as well as the launch of Free Win, the first free game for our agencies, available through the OPAP Store App. In the online channel, we successfully presented Opaponline.gr, our online proposition in number games and continued to strengthen our position in all product categories.

“We are confident that OPAP is well positioned to achieve its financial goals and strategic priorities for the rest of the year in a sustainable and accountable manner for all stakeholders.”

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