OPAP Sees 8.2% Revenue Growth in Q1 Fueled by iGaming Expansion

In a strong start to the year for Greek lottery operator OPAP, the company has reported an 8.2% increase in revenue in the first quarter of 2025. The growth was primarily driven by the impressive performance of its igaming and sports betting divisions, which saw double-digit growth.

OPAP’s chief executive, Jan Karas, expressed confidence in the company’s ability to meet its full-year targets, emphasizing the significant contributions of igaming and sports betting to the overall revenue growth. The group’s gross gaming revenue for Q1 reached €595.0 million, representing a year-on-year increase and demonstrating the strength of the company’s diversified portfolio.

Igaming emerged as a standout performer for OPAP, with a remarkable 19.8% increase in revenue during the quarter. The sector accounted for nearly half of the company’s online revenue, showcasing strong player engagement and spending levels. Sports betting also saw a healthy growth of 12.8%, while lottery revenue experienced a modest increase.

Despite higher expenses during the quarter, OPAP’s EBITDA and operating profit showed positive growth, reflecting the company’s ability to effectively manage costs and drive profitability. With a focus on customer-centric experiences and innovative technology, OPAP is well-positioned to achieve its growth and profitability goals for the remainder of the year.

The strong Q1 performance underlines OPAP’s commitment to delivering value for its shareholders while upholding sustainability and social responsibility priorities. As part of the Allwyn group, OPAP aims to continue offering unique and engaging experiences to its customers, leveraging its position in the evolving gaming market landscape.