Greece’s OPAP posts record revenue, driven by online casino and sports betting
OPAP, Greece’s largest gaming company, has reported its highest-ever annual gross gaming revenue (GGR), fuelled by a surge in online casino gaming and sports betting. The company’s GGR for 2024 rose 10 percent year-on-year to €2.3 billion ($2.5 billion), up from €2.09 billion in 2023.
Net profits also saw a significant boost, with recurring net profit climbing 11.9 percent to €491.6 million ($535 million). The company attributed this record-breaking performance to strong digital engagement, with online gaming now representing 32 percent of the total GGR.
Online gaming and sports betting drive growth
OPAP’s online casino revenue surged 29.2 percent year-over-year, demonstrating increasing demand among both new and existing players. Meanwhile, sports betting revenues grew by 15.6 percent, reinforcing the company’s dominance in Greece’s regulated gaming sector.
“Our online activities reached new highs, accounting for nearly one-third of our total GGR,” OPAP CEO Jan Karas said in a statement. “This reflects strong customer engagement and the success of our digital expansion strategy.“
Outlook for 2025
Looking ahead, OPAP forecasts low single-digit growth in GGR for 2025, with EBITDA (Earnings Before Interest, Taxation, Depreciation, and Amortisation) margins projected to stabilise at around 35 percent.
Despite an increasingly competitive market, the company remains confident in its omnichannel strategy, which integrates retail and online gaming to enhance customer experience and maximise revenue potential.
OPAP plans to reward investors with a final dividend of €0.80 per share, payable in May 2025, on top of an interim dividend of €0.60 per share that has already been distributed.
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