OPAP reports strong first half results

OPAP, the biggest gaming and lottery company in Greece, on Wednesday said its net revenue GGR rose 12.2% to 570.1 million euros in the first half of 2021, compared with the same period last year, with GGR up 120.4% in the second quarter to 395.9 million euros, boosted by the reopening of its stores and the full integration of Stoiximan.

Gross earnings rose 30.2% to 248.8 million euros in the first half. It rose 151.9% in the second quarter.

EBITDA grew 99.8% to 204.8 million euros in the first half, and soared to 143.5 million euros in the second quarter from 16.2 million euros in the same period in 2020. Net profits totaled 82.1 million euros, up 125.1% from 2020, while in the second quarter, net profits totaled 71.9 million euros from a loss of 15.1 million in 2020.

OPAP’s board plans to pay a pre-dividend of 0.10 euro per share to its shareholders with the option of re-investing in the company’s shares.