Greek gaming group OPAP's revenue soars on Mega Jackpot and sports betting (updated)

Allwyn AG

20/11/2024 16:48

(Adds details in paragraph 3, CEO quote in paragraph 4, outlook
in paragraph 5)
       Nov 20 (Reuters) - Greece's biggest gaming company OPAP
 OPAr.AT  said on Wednesday said its gross gaming revenue
increased 17.6% in the third quarter compared with the same
period last year, helped by Mega Jackpot as well as increased
sports betting activity.
    OPAP said its third-quarter gross gaming revenue reached
565.8 million euros ($595 million), compared with 481 million a
year earlier, while its quarterly net profit was up 44.7% year
on year at 120.5 million euros on the back of higher revenues. 
    Tzoker, a lottery game, drove lottery GGR in the third
quarter 20.5% higher than the year before, as it offered the
second biggest jackpot in the game’s history, while a full
sporting calendar increased betting GGR by 16.1% in the same
period. 
    "The quarter’s highlight was Tzoker’s Mega jackpot, which
led to enhanced activity in both the retail and the online
channel alongside increased footfall in our stores," OPAP's
Chief Executive Officer Jan Karas said in a statement. 
    The Athens-listed group also said it now expects earnings
before interest, taxation, depreciation and amortisation for the
year to be towards the top end of the 750 million to 770 million
euro range in its guidance in March.    

($1 = 0.9507 euros)

 (Reporting by Antonis Pothitos and Athina Karolidou; Editing by
Jane Merriman and Emelia Sithole-Matarise)
 ((antonis.pothitos@thomsonreuters.com; +48 58 769 65 78;))