OPAP reports 3.6% decline in Q3 2023

Greek gaming operator OPAP's gross gaming revenue (GGR) for the third quarter of 2023 was €481 million. This follows from the financial report of Greece's leading gambling company.

According to the contents of the document, GGR decreased by 3.6% compared to the same period last year.

Lotteries remained the main source of revenue, with sales down 8.0% year on year to €166 million.

Income from betting activities decreased by 7.8% to €144 million.

Revenue from video lottery terminals (VLT) amounted to €82.9 million, showing an increase of 2.3% compared to the same period last year.

Online casino revenue increased by 13.4% to €62.5 million.

EBITDA, equal to earnings before interest, taxes, depreciation and amortization, decreased by 26.4%, reaching 197.6 million euros.

The operator’s income for the nine months of this year reached 1.51 billion, which is 7.8% more than a year earlier.