OPAP recorded a strong performance in Q3 2024, thanks to the significant growth of JOKER, the continued positive momentum in sports betting and the dynamic performance of online casino games. In this context, during the presentation of the financial results to the analysts, the management of the company expressed confidence that the upper end of its forecast will be achieved for the results of the whole year.

Specifically, in the 3rd quarter of 2024, the net income before contributions (GGR) amounted to €565.8 million. (+17.6% annually), earnings before interest, taxes and depreciation (EBITDA) amounted to €213.2 million. (+46.6% annually), while net profits reached €120.5 million. (+44.7% annually). At the nine-month level, the GGRs amounted to €1,648.3 million. (+9.4% annually), EBITDA amounted to €586.9 million. (+12.9%) and net profits amounted to €352 million. (+14.4% annually).

According to with the Managing Director of OPAP, Mr. Jan Karasthe successful execution of the company’s strategy is reflected in both its strong financial performance and its upgraded offerings, which are designed to further grow and enhance the customer entertainment experience.

The most important developments for OPAP in the third quarter

As noted by Mr. Karas, the top development of the quarter was the big JOKER jackpot, the second biggest in the history of the game, which led to increased activity in both the retail and online channels, as well as increased traffic in OPAP stores. OPAP’s CEO emphasized that the company will “build” on this success and enhance the overall customer experience.

In addition, OPAP management referred to the Eurojackpot Extra and JOKER Extra promotions, which were recently launched and yielded encouraging resultsas well as the new SCRATCH monthly payment game “24 Months of Luck”, which has attracted the interest of customers. The OPAP Store App, the main pillar for the digitalization of the company’s retail channel, and the OPAP Rewards loyalty program continued to score increasing levels of customer interactionadding value to the company’s retail product propositions.

Also, mention was made of the special promotions at PLAY stores, which enhanced the customer experience with exciting events, raffles, points in the reward program, etc. At the same time, OPAP continued to upgrade its “fleet” of VLTs, installing state-of-the-art machines and offering attractive new games. To date, nearly 12,000 state-of-the-art machines that enhance the gaming experience have been installed.

In addition, OPAP’s online activities maintained their growth momentum and increased their contribution to the group’s revenues, thanks to the high activity in online casino games, the development of iLottery and the continued positive trends in sports betting, due to the “full” sports calendar. Among others, Mr. Karas mentioned innovative initiatives such as the new free game, Bet Boss, which boosts gaming activity on Pamestoixima.gr, as well as the new e-sports product, which attracts young audiences.

Important ESG distinction for OPAP

MSCI has once again confirmed OPAP’s high assessment in relation to ESG (Environmental, Social, Governance) criteria. Specifically, in October 2024, MSCI reaffirmed OPAP’s “AA” rating.

This is the sixth consecutive time MSCI has rated OPAP ‘AA’, which reflects the company’s commitment and focus on managing the most important ESG risks and opportunities for its industry and its partners.