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OPAP Has Solid Financials For 2014

OPAP, the online gambling operator in Greece revealed their first quarter financials for 2014. You can see that OPAP had a massive increase in revenue and also had a higher EBITDA.

The key financial indicators within the report that OPAP released includes the following. They were able to have an increase of 11% in revenue growth compared for the first quarter of 2013. In total they were able to earn 965.5 Million Euro’s, which is an increase of nearly 100 Million Euro’s. The EBITDA went up by 32%, OPAP have an increase of 18 Million Euros compared to last year.

OPAP

The gross gaming revenue earned through OPAP was 320.1 Million Euros, during 2014 OPAP was able to earn 302.6 Million Euros. Meaning that the gross gaming revenue only increase by 5.8% from 2013. Net Profit was able to increase by 27.6%, during the first quarter of 2013 OPAP earned 38.9 Million Euros. This quarter they were able to earn 49.7 Million Euros.

Overall this shows that the Greece online gambling industry has grown a considerable amount compared to last year. Analysts believe that come this time next year OPAP will have doubled their revenue, if the analysts prove to be right then the Greece online gambling market would be worth more than One Billion Euro’s.

Kaml Ziegler, the CEO and Chairman for OPAP commented on the performance of his company saying, “This time last year we didn’t think that we would be able to increase our profits or revenue. We thought that we’d break even at best but Greece Citizens proved us wrong, showing us that they’ve adopted the online gambling market as their own. We can only hope that our profits and revenue will continue to rise.”

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