OPAP reveals the decrease in revenues

OPAP reveals the decrease in revenues


Profits dive in the financial year 2017 as escalated revenue was impacted by hiking operating costs, new games, and long-term investments witnessed by the Greek company, OPAP.

The Athens-based firm observed net benefit disintegrate around 25% regardless of its GGR hoisting by 4% to €1.45bn ($1.78bn).

Net profit was down to €126m, while gross profit from gaming operations was up 3.5% to €564.7m.

Notwithstanding, the costs changed altogether attributable to changes in concurrences with specialists, the presentation of more than 10,000 video lottery terminals and duties regarding social responsiblity.

OPAP additionally observed a 69% drop in final quarter net benefit to €17.2m, hurt by higher expenses for the organization of new diversions.

In perspective of this, OPAP Chief Executive Damian Cope stated: “2017 was a particularly busy year in terms of the overall level of change that OPAP underwent. Beginning with the new partnership agreement that we signed with our agents in Q1 we managed to successfully implement a number of new initiatives that will each act as solid foundations for the long–term benefit of the company and ensure the delivery of our 2020 Vision.”

Related Articles

Recent Posts

NetShop ISP Shortlisted in SBC Awards 2020
SiGMA Group Launches SiGMA Europe VIrtual Summit for iGaming
NetShop ISP Exhibiting at SBC Beting on Sports Europe Digital

© Copyright 2004-2020 S.S. NETSHOP INTERNET SERVICES LTD trading as “NetShop ISP”. All rights reserved.

If you have found a spelling error, please notify us by selecting the text and pressing Ctrl+Enter.

Insights iGaming

Webinar Series

29 October 2020
15:00 CET

Forgot Password? Click here

Not a Client Yet?

Spelling error report

The following text will be sent to our editors: