OPAP reports revenue rise in 2018

The Greek gambling monopoly, OPAP, has reported robust financial performance in 2018. The company has posted a 6.3% increase in revenue in 2018 year on year. Video lottery terminals (VLTs) and KINO lottery game topped the revenue list. OPAP recorded a gross gaming revenue (GGR) of €1.55 billion for 2018.

OPAP detailed that the gross gaming revenue (GGR) for 2018 is €1.55 billion, up from the €1.46 billion reported during the previous year. VLTs’ performance was one of the highlights for the company’s financial results, as the profit vertically reached €68.4 million during the fourth quarter and €208.7 million in 2018, which is a 262.6 per cent increase from the 2017 total.

KINO also helped OPAP to register good results, especially because of its fourth quarter performance and despite the fact that overall lottery revenue reported a 4.7 per cent year-on-year decrease to €779 million. Betting and instant operations also registered year-on-year declines.

OPAP CEO Damian Cope said that the company delivered on all key business goals: “We are now operating over 350 dedicated Gaming Halls and remain on track to install all 25,000 machines by the end of 2019 as planned. Online we re-launched OPAP’s own sportsbook and we also made a strategically important investment in Stoiximan Group, and via both paths we believe we will be able to rapidly grow our presence online,” he said.