Greece's largest gaming company, OPAP, has reported record financial results for 2024, delighting its shareholders. The increase in revenue has been driven by a surge in popularity for online casinos and sports betting, confirming the sustained interest of players in the gaming industry.
At the end of 2024, OPAP has announced a significant increase in its revenues. The total revenue grew by 10%, reaching €2.30 billion (approximately $2.50 billion) compared to €2.09 billion in 2023. The net profit also demonstrated a positive trajectory, rising by 11.9% to €491.6 million.
Key Financial Highlights:
- Revenue for 2024: €2.30 billion
- Net Profit: €491.6 million
- Revenue Growth Year-on-Year: +10%
- Net Profit Growth: +11.9%
One of the main factors contributing to the company's success has been the growth of its online activity. OPAP’s CEO, Jan Karas, noted that “online activity has reached new heights, accounting for 32% of the group’s overall sales.”
- Revenue from Online Casinos: Increased by 29.2%, attributed to strong demand from both new and existing players.
- Total Betting Revenue: Grew by 15.6%.
Looking ahead to 2025, the company’s expectations remain optimistic. OPAP anticipates single-digit growth in Gross Gaming Revenue (GGR). Additionally, EBITDA margin is projected to be around 35%.
1. Single-digit growth in GGR
2. EBITDA expected to be around 35%
OPAP's success in 2024 highlights the steady growth of the gaming industry in Greece, fueled by the rising popularity of online gaming and the development of sports betting. The financial results testify to the company’s resilience and its ability to adapt to changing market conditions. Expectations for positive outcomes in the upcoming year reinforce confidence in continued growth.
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