Online casino growth pushes Q1 revenue up 4.2% at OPAP

Online casino growth pushes Q1 revenue up 4.2% at OPAP

Article brief provided by iGaming Business
  • Robert Fletcher, iGaming Business
June 2, 2024 9:32 AM
  • Robert Fletcher, iGaming Business

OPAP said growth in its online casino business helped push revenue up 4.2% year-on-year to €549.7m ($593.3m), while the Greek gambling group also hailed further success within its lottery division.

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Gross gaming revenue (GGR) in Q1 comfortably surpassed the €527.2m reported by OPAP in the same period last year. Net gaming revenue – GGR minus GGR contribution and other levies and duties – also increased 3.6% to €376.5m.

OPAP reported higher revenue across three of its five core segments in Q1. The highlight was growth in the online casino business, where revenue increased by 29.1% to €12.9m. Lottery and video lottery terminal (VLT) revenue was also higher, although OPAP did note declines in betting and instant and passives revenue.