Greece's OPAP posts record 2025 revenue, but profit dips on higher costs

Allwyn AG

02/03/2026 17:05

March 2 (Reuters) - Greece's OPAP OPAr.AT on Monday reported a 0.5% drop in 2025 net profit despite achieving record gross gaming revenue (GGR), as higher operating, marketing and payroll expenses weighed on earnings.

• The country's biggest gaming operator said GGR rose 4.9% from a year earlier to 2.41 billion euros ($2.81 billion) in 2025, helped by strong online and retail performance.

• Earnings before interest, taxes, depreciation and amortisation (EBITDA) eased 0.9% annually to 824.6 million.

• Net profit for 2025 stood at 483.4 million euros, compared with 485.8 million euros a year earlier.

• Operating expenses rose 14.7% from a year earlier to 488.4 million euros.

• Full-year online revenue surged 16.9% from a year earlier to 350.6 million euros, helped by strong demand.

• OPAP said its business combination with Allwyn is expected to conclude within the second quarter of 2026.

• The Athens-listed group added that Allwyn will distribute 0.80 euros per share to OPAP shareholders after the completion of the business combination, on top of the 1.30 euros per share already paid in 2025.

($1 = 0.8563 euros)

(Reporting by Antonis Pothitos; Editing by Jonathan Ananda)

((antonis.pothitos@thomsonreuters.com; +48 58 769 65 78;))