Betting group OPAP's profit hit by COVID, uncertainty on stores reopening

Allwyn AG

31/03/2021 17:37

ATHENS, March 31 (Reuters) - Europe's fourth biggest betting
firm OPAP  OPAr.AT  said on Wednesday its annual net profit more
than halved last year, hit by shop closures amid COVID
restrictions.
    The company, which is managed and 43% owned by a Czech
group, shut down its 4,000 stores in Greece and Cyprus for
nearly four months last year as part of government-imposed
coronavirus restrictions.
    This has hurt its business, with net profit coming in at 100
million euros ($117.3 million) last year, down from 206 million
euros the previous year.
    Greece fared better than other European countries in dealing
with the first wave of the pandemic last year, but a new surge
in infections in November forced authorities to impose a second
lockdown and restrict or shut down betting stores. 
    OPAP said it was ready to resume business once restrictions
are lifted but added that, with the lockdown still in force,
"2021 carries a material degree of uncertainty" about the
reopening of its stores.
    ($1 = 0.8522 euros)

 (Reporting by Angeliki Koutantou; Editing by Jan Harvey)
 ((angeliki.koutantou@thomsonreuters.com; +30 2102214608;
Reuters Messaging: angeliki.koutantou.reuters.com@reuters.net))