Greek gaming operator Opap has reported a marginal fall in gross gaming revenue to €1,397.6m for 2016, as a decline in sports betting offset growth from its core lottery products.

Amounts wagered fell by 0.6 per cent to €4.23bn for the year, with net gaming revenue (NGR) down by 8 per cent to €573.0m as a result of higher gaming taxes.

“Despite the ongoing economic challenges, which were reflected in the GDP contraction in Q4, OPAP’s performance in FY 2016 was in line with our expectations,” said CEO Damian Cope. “GGR remained broadly stable for the year and although we were heavily burdened by the increased GGR contribution rate to the Hellenic Republic, our underlying financial performance remained solid.

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