Opap On The Up

Cost cutting and new products pay dividends

Greece's OPAP has reached analyst's high end forecasts in its nine month and third quarter results released Tuesday.

The improvement in results has been attributed to cost-cutting measures imposed by OPAP along with the rejuvenation of the products it offers the public.

Key performance highlights include:

– A 26 percent rise in Net profit to Euro 55.9 million from Euro 44.4 million in the same period last year.

– An interim dividend of Euro 0.23 a share, the first time an interim payout has been made since 2010.

– EBITDA rose 33 percent to Euro 94.2 million, aided by a 30 percent drop in annual distribution costs.

– Sales of OPAP's flagship sports betting game Stihima rose 19 percent to Euro 1.07 billion.

Looking ahead, OPAP wants to expand into video lotto products, a strategy analysists say will position the company for growth as its moves forward.

Online Casino News Courtesy of Infopowa

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The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
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