OPAP S.A., the gaming operator in Greece, announces its consolidated financial results for the nine-month period ended September 30th, 2022

OPAP's revenue in 9M 2022 increased by 34,4% reaching €1,398.1 m on the back of strong retail contribution due to its full operation this year and solid online revenue stream
Q3 2022 stood higher by 6.1% y-oy to €498.8m reflecting increased in-store mobility and online persisting growth aided by well in place product initiatives.Gross Profit gaming operations in 9M 2022 stood at €574.8m compared to €410.5m in 9M 2021 higher by 40% as a result of top line growth and higher marging. Q3 2022 Gross Profit increased by 10.3% y-o-y reaching €204.6m vs €185,4m in Q3 2021. 

EBITDA in 9M 2022 stood at €533.3 versus €379.9m in 9M 2021 higher by 40,4% or 48,4$ l-fl. Q3 2022 EBITDA reached €197.6m versus €175m in Q3 2021, up by 12,9% or 13,4% on a l-f-l basis, on the back of increased top line performance coupled with continuous focus on cost containment.

According to Jan Karas, CEO of OPAP, "Our performance in the third quarter of 2022 was characterized by continued retail rebound, as a result of casual gamers gradually returning to the game, and continued strong growth online...In the face of the future, and as the long-awaited, the historic event of the World Cup has just begun; we believe this encouraging momentum will lead to a strong finish to the year". 

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