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OPAP profit slumps as retroactive taxes & sports betting decline hit results

31st May 2016 12:19 pm GMT
OPAP

Greek gaming operator OPAP has posted a 26 per cent drop in net profit to €42.8m for the first quarter of 2016, with results impacted by retroactive taxes imposed from the start of the year and a 14 per cent fall in sports betting revenue.

Gross gaming revenue (GGR) fell by 4 per cent to €340.7m, with growth in numerical lottery games unable to offset a decline in sports betting and instant win games.

Sports betting GGR fell [...]

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