Industry News

OPAP Reports 38% Drop in First-quarter Profit

Published

5 years ago

June 12, 2020

Niji Narayan

OPAP Reports 38% Drop in First-quarter Profit

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Greek lottery and betting operator OPAP has reported a 38% drop in first-quarter profit due to the closure of outlets during the coronavirus lockdown.

Net profit in the January to March period stood at 35.5 million euros ($40.3 million), down from 57.2 million in the same period a year before. Gross gaming revenue (GGR) was down 17% at 328 million euros.

OPAP had been reviewing payments to shareholders on 2019 profit because of the trading situation. The company said it will propose a dividend of 0.30 euro per share at a shareholders’ meeting later in June, on top of 1 euro a share it paid in February.

OPAP has resumed most of its operations since May 11 and the company was seeing signs of “gradual recovery” across its portfolio, it said.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.