OPAP's net profits down 9 percent in Q1 of 2016

EconomyCorporates Tags: Corporates, Results
Photo via www.opap.gr
Photo via www.opap.gr

The Greek Organisation of Football Prognostics (OPAP), Greece’s leading game operator and Europe’s largest betting firm, has released its Q1 2016 financial statement, which shows that revenues fell by 4.4 percent, coming in at 340.7 million euros compared to 356.3 million euros for the same quarter last year.

EBITDA fell slightly to 93.0 million euros compared to 93.2 million euros in Q1 2015. The reason behind this was due to management’s efforts to optimise costs. Accounting for the increase of the gross gaming revenue contribution, retroactively applied f...

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