Greek gambling giant OPAP S.A. has consolidated its online market presence, emerging from Q1 2025 with 20% iGaming growth year-over-year.
Total GGR for the quarter stood at €595m [$677m], up 8.2% from last year’s period ending March (Q1 2024: €550m). Of that total, 14.3% was a direct contribution from OPAP’s iGaming segment, which reached €85m compared to €71m in Q1 2024 (up 19.8%).
Further implications of OPAP’s gradual transition from a physical to a digital footprint were highlighted under the ‘Other Operating Expense’ table. There, Expense on Rentals in Q1 2025 was brought down to €204,000, which represented a 79.2% drop from the €982k in Q1 2024.
Due to the report’s compliance with EU IFRS standards, ‘Expense on Rentals’ is likely referring to short-term or low-value leases on secondary premises, such as kiosks and storage units.
