OPAP posts “significant improvement” despite “volatile environment”

Greece’s economy may be in tatters but local betting firm OPAP posted its seventh consecutive quarter of revenue growth during Q1 2015.

For the first three months of the year, OPAP sales rose 15.8% to €1.12b, while gross gaming revenue after punter payouts rose 11.3% to €356.3m. Earnings were up 22.3% to €93.2m and net profit gained 16.9% to €58.1m.

OPAP CEO Kamil Ziegler said the company had demonstrated “significant improvement” in both financial figures and operating efficiencies despite “a volatile environment.”

OPAP’s numerical games segment reported revenue up 2.8% to €585.8m. The Kino product was up 1.2% to €506.3m, its first positive quarter since scratch tickets were introduced. The Joker game grew more than one-quarter to €56.2m.