Greece's OPAP posts record Q4 gross gaming revenue (updated)

Allwyn AG

13/03/2024 16:42

(Adds CEO quote in paragraph 3, 2024 outlook in paragraph 4,
dividend in paragraph 5)
       March 13 (Reuters) - Greece's biggest gaming firm OPAP
 OPAr.AT  on Wednesday reported its highest ever quarterly gross
gaming revenue (GGR) helped by increased playability in retail
betting and higher engagement in its online casino.
    OPAP said its quarterly GGR reached 581.2 million euros
($635.83 million) in the fourth quarter of 2023, compared with
540.9 million a year earlier, while its quarterly recurring net
profit was down 13.9% to 109.7 million euros on the back of
higher deferred taxes.
    "OPAP concluded 2023 with the strongest Q4 ever and achieved
record revenues," Chief Executive Jan Karas said in a statement,
adding that in the fourth quarter, there was "solid growth" in
both the retail and online business. 
    The company expects its 2024 GGR to be between 2.15 billion
and 2.20 billion euros and its annual earnings before interest,
taxation, depreciation and amortisation (EBITDA) between 750
million and 770 million euros. 
    OPAP also said it will pay a total dividend of 1.85 euros
per share for 2023, including the already paid interim dividend
of 1 euro per share.
 ($1 = 0.9141 euro)

 (Reporting by Antonis Pothitos in Gdansk; Editing by Elaine
Hardcastle and Jonathan Oatis)
 ((antonis.pothitos@thomsonreuters.com; +48 58 769 65 78;))