OPAP gaming revenue all but wiped out by Greek and Cypriot shutdowns

Allwyn AG

01/04/2020 16:54

ATHENS, April 1 (Reuters) - OPAP  OPAr.AT , Europe's
fourth-biggest betting business, has had almost all its revenue
wiped out by the shutdown of its outlets as part of a
government-imposed lockdown to fight the spread of the
coronavirus, it said on Wednesday.
    The company was reporting a 62% rise in fourth-quarter net
profit to 61.8 million euros ($67.6 million), citing its new
video lottery operation and lower taxation.
    However, the impact of the coronavirus pandemic has
eliminated about 99% of its gaming revenue in recent weeks,
having been forced to close all its roughly 4,000 outlets in
Greece and Cyprus, the company said.
($1 = 0.9147 euros)
    

 (Reporting by Angeliki Koutantou
Editing by David Goodman
)
 ((angeliki.koutantou@thomsonreuters.com; +30 210 3376436;
Reuters Messaging: angeliki.koutantou.reuters.com@reuters.net))