A strong performance in sports betting and online casino from Greek gaming operator OPAP saw full-year gross gaming revenue (GGR) reach a record level in 2024.
GGR climbed 10 per cent from €2.09bn to €2.3bn, helped by a Q4 2024 rise of 11.5 per cent from €581.2m to €647.8m.
A 17.3 per cent rise in Q4 gross profit to €277.2m helped push full-year profits to up 13.8 per cent to €969.7m.
Full-year adjusted EBITDA hit €832m, up 14 per cent from €730m, with Q4 EBITDA up 16.6 per cent to €245.1m.
OPAP CEO Jan Karas said: “Q4 2024 was exceptional for OPAP, marked by record-breaking GGR and the highest recurring EBITDA of the last decade.
“Overall, the quarter wrapped up a highly successful year and resulted in the outperformance of our latest outlook. Our outstanding performance in 2024 was mainly driven by robust growth in sports betting and our igaming offering, as well as the remarkable year for Tzoker accompanied by the contribution of the newly launched Eurojackpot.
“In addition, our online activities reached new highs, accounting for 32 per cent of the group’s GGR, while our ilottery proposition continued gaining momentum.”
OPAP’s full-year lotteries revenues rose 6.1 per cent to €774.8m and accounted for 33.7 per cent of total revenue.
Sports betting was worth 32.5 per cent of revenue at €746.2m, up 15.6 per cent.
Online casino revenue for the full year was €325.3m, up 29.2 per cent and accounting for 14.2 per cent of total revenue.
However, Instant and Passives revenue fell 9.3 per cent to €105.1m and VLT revenue dropped 0.1 per cent to €344.7m.
