Greek gaming operator OPAP had igaming growth of almost 20 per cent to thank in Q1 as total revenue climbed 8.2 per cent to €595m.
Igaming revenue climbed by 19.8 per cent to €84.9m, up from €70.9m in Q1 2024, while sports betting revenue rose 12.8 per cent from €168.5m to €190m.
However, lottery remained OPAP’s biggest source of revenue at €206.7m, which was an increase of 5.5 per cent from Q1 2024’s €196m.
Lottery’s share of revenue for OPAP fell one per cent to 34.7 per cent, the share of revenues in igaming and sports betting rose by just over one per cent to 14.3 per cent and 31.9 per cent, respectively.
“2025 has started well with a set of robust Q1 results. Our solid organic growth, driven by continued momentum in online, makes us confident that we will deliver our outlook for 2025,” said OPAP CEO Jan Karas.
“Major drivers for this success have been sports betting and igaming, while Tzoker benefitted from favourable jackpot rollovers and the record-breaking jackpot in January.
“Additionally, retail digitalisation is rapidly advancing through the OPAP Store App, offering personalised experiences through our Loyalty schemes.
“Moving forward, we continue to put customers at the centre of everything we do, focusing on delivering exciting experiences in both retail and online, and leveraging innovative technology to stay ahead of the game.
“At the same time, utilising the fact that OPAP is part of Allwyn we will continue offering unique experiences to our customers. Overall, the first quarter performance places us well to achieve our growth and profitability goals, generating value for our shareholders and fulfilling our sustainability and social responsibility priorities.”
OPAP’s net gaming revenue rose 7.9 per cent to €406.4m, gross profit climbed 10.7 per cent to €250.8m and EBITDA increased 8.8 per cent to €207.1m.
Net profit rose 8.9 per cent to €123.4m.
