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OPAP Q1 net profit down 8.7 percent
June 12, 2017 / 3:19 PM / 4 months ago

OPAP Q1 net profit down 8.7 percent

ATHENS, June 12 (Reuters) - Greece-based OPAP, Europe’s fourth-biggest betting firm, reported on Monday an 8.7 percent drop in first-quarter net profit, hurt by costs for the roll out of a new video lottery business.

OPAP said net profit came in at 39 million euros in the first three months of the year, down from 42.8 million euros in the same period a year ago.

OPAP, which was fully privatised in 2013, currently offers sports betting and lotteries through a network of about 5,750 outlets in Greece and Cyprus via a revenue-sharing scheme with agents. (Reporting by Angeliki Koutantou)

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