Greek gaming operator OPAP said “solid online performance and retail growth” helped full-year revenues reach a record €2.1bn in 2023.
The rise of 7.7 per cent from 2022’s €1.9bn was helped by a 7.5 per cent year-on-year jump in Q4 revenue to €581.2m.
Full-year adjusted EBITDA was “broadly stable” at €730m and gross profit from gaming operations in FY23 hit €852.3m, up 6.7 per cent from 2022’s €798.8m.
Although, FY23 net profit dropped 31.1 per cent to €408.3m and Q4 net profit declined by 67.2 per cent, “mainly due to a one-off profit in 2022,” OPAP said.
OPAP CEO Jan Karas said the company’s Q4 development “clearly reflects the consistent and effective implementation of our business strategy throughout the year, as well as our ability to pursue and achieve ambitious goals.”
He said OPAP’s “continuous focus” on digitisation helped retail and online growth.
Online casino showed the highest growth of any of OPAP’s business segments at 26.2 per cent year-on-year, rising to €251.8m, up from 2022’s €199.5m.
However, OPAP’s lottery revenues, which rose by 2.9 per cent to €730m, still accounted for the biggest share of overall revenue (35 per cent.)
Betting revenues followed behind at 30.9 per cent of total revenue for the year (€645.5m).
