OPAP, the gaming company that holds the exclusive rights to organize and manage numerical lotteries and sports betting in Greece, has announced that its casino growth has pushed revenue up 4.2% at Q1. 

The company has attributed its success to the growth of its online casino business. 

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Lottery Success for Company 

There was more success for the Greek Groups Lottery Division, which saw Gross gaming revenue (GGR) in Q1 comfortably surpass the €527.2m reported by OPAP in the same period last year.  

The positive and negative figures for the company:

• revenue up 4.2% year-on-year to €549.7m (£467.5m/$593.3m) 
• Net gaming revenue increased 3.6% to €376.5m 
• online casino business revenue increased by 29.1% to €12.9 million. 
• Revenue is increasing 29.1% in the online casino segment to €70.9 million  
• Lottery and video lottery terminal (VLT) revenue is also higher 
• VLT revenue increased by 2.5% to €86.5m 
• €196.0m generated in Q1 3.9% ahead of the previous year 
• operating expenses were 18.6% higher during Q1 at €105.4m 
• revenue from the instant and passives business hit €27.8m, a drop of 9.0% 
• Gaming revenue related expenses were also 15.8% higher at €25.6m 
• pre-tax profit of €155.7m, down 3.4% year-on-year 
• €39.9m in income tax, Q1 net profit of €115.8m, drop of 4.0% from €120.6m in 2023 

The company said that it remained focused on:  

• providing generous returns for its shareholders 
• creating value for stakeholders 
•  giving back to society