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OPAP PROFITS DROP 3.3 PERCENT
Posted 3/22/11 : Revenues fall 5.5 percent
The Greek gambling monopoly OPAP has posted a mediocre 2010 set of results, reporting that net profits dropped 3.5 percent when compared to 2009, and revenues declined 5.5 percent.
Despite the declines, the company still produced net profits of Euro 575.8 million on revenues of Euro 5.14 billion for its shareholders, with management reporting cost cuts of 20.7 percent compared to 2009.
Chief executive Ioannis Spanoudakis said: “We are satisfied with the performance of our company in 2010. We managed to sustain high levels of profitability despite the adverse macroeconomic conditions and the increased competition. We set targets to increase efficiencies and productivity in 2010 and exceeded them by a high margin.
“Given our strong financial position, we remain optimistic for 2011 in view of the imminent reform and regulation of the Greek gaming market, the expansion of our product range with the new forms of gaming such as monitor games and live betting and the enhancement of our distribution channels taking advantage of new technologies and equipment."
Spanoudakis said the company's strategy remained focused on growth.
Gambling News :
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
NY Rangers vs. Devils on 12/21 -
When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.
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