OPAP first-quarter profit hit by Covid-19 lockdown

OPAP, Europe's fourth-biggest betting business, reported a 38% drop in first-quarter profit on Wednesday due to the closure of outlets during the coronavirus lockdown in Greece and Cyprus.

Net profit in the January to March period stood at 35.5 million euros ($40.3 million), down from 57.2 million in the same period a year before.

OPAP takes over 
rival Stoiximan

OPAP, Europe's fourth largest gaming company, has agreed to acquire a controlling stake in the fast-growing Greek and Cypriot business of online bookmaker Stoiximan, it said on Tuesday.
OPAP, which already holds a 36.8 percent stake in Stoiximan's online operations in Portugal, Romania and Germany, has agreed to buy a 51 percent stake in Stoiximan's Greek and Cypriot operations.

Punters gambled over 16 billion euros in 2018

Greek punters staked over 16 billion euros on legal games of chance last year.

According to figures compiled by the Hellenic Gaming Commission (EEEP), Greeks bet 13.2 billion on all legal games to leave gross gaming revenues of 2.1 billion euros to the suppliers, while at least another 3 billion euros was gambled on video lottery terminals (VLTs), which EEEP has not accounted for.

Moody’s: Intralot's lottery sale a credit positive

Rating agency Moody's commented on Monday that the sale by Intralot of a 16.5 percent in lottery company Ellinika Lachia to main stakeholder OPAP is a credit positive for Intralot, and that the price of 20 million euros will go a long way toward improving its liquidity, which to date was seen as "weak," according to the agency.

OPAP to buy Intralot's stake in Ellinika Lachia

Gambling giant OPAP announced on Tuesday that its 100 percent subsidiary OPAP Investment Limited has signed a memorandum of understanding with Intralot for the acquisition of the latter's stake in lottery company Ellinika Lachia, amounting to 511,500 shares or 16.5 percent of the share capital, for 20 million euros.