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OPAP Hit Hard by Greek Gambling Tax

Greek gambling monopoly's profits take a 61 percent hit
 
The Greek gambling monopoly OPAP is anticipating a profit cut of 61 percent in Q2/2010 as a result of a windfall tax imposed by the government on businesses to shore up its ailing finances.
 
Industry analysts say expected group net profit of Euros 60.5 million is a significant decline from the Euros 155.5 million in the same period a year ago.
 
The Greek government signed up to a Euro 110 billion bailout with the IMF and its European Union partners, and then had to impose a debt crisis levy on 2009 corporate profit. In OPAP's case this sliced a massive Euros 94 million off the gambling group's Q2 earnings.
 
OPAP enjoyed a relatively successful second quarter, with increased wagers on sports betting game Stihima up 22 percent during the football World Cup, offsetting lower revenues from the domestic Greek market which has been badly affected by the economic crisis. Sales overall were up 5.8 percent to Euros 1.37 billion. A series of jackpot rollovers in lottery game Joker also boosted revenues.
 
The 34 percent state owned OPAP said it expects flat full-year sales due to austerity measures and a deepening recession in Greece. Last year, it had sales of Euros 5.4 billion.
 
The share price for the company has declined 24.4 percent since the start of the year, in line with a 24 percent drop on the Athens bourse's benchmark index, according to a Reuters news agency report.



Gambling News :

NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday - Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.

Pro League Reveals Sportradar Contract Details - The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.

NFL Odds: Steelers Visit Undefeated Chiefs #TNF - The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.

Mega Moolah strikes again - The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.

2 New Slots For Microgaming Casinos - David Reynolds, Games Publisher at Microgaming, comments: “On top of our branded title game Halloween, we’re delivering two more slots this October, each bringing exciting features and a different theme.

MLS Odds: Red Bulls vs. Whitecaps - The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.

Velka Pardubicka On RacingUK - Felix de Giles flies the British flag in Sunday’s Velka Pardubicka

Mega Moolah Jackpot Hits on 9/27/2017 - Another millionaire made on Microgaming’s Mega Moolah; 5th largest Microgaming payout

Simon Jones is crowned the Greatest Poker Player in the Universe - A €10,000 leaderboard tracked player progress throughout the series to determine who the Greatest Poker Player in the Universe was. Professional poker player/sports psychology lecturer, Simon Jones, took the crown with a €5,000 cash bonus and trophy to prove it.

MLB Odds: Yankees Favored in AL Wild Card Game - After a strong regular season, the New York Yankees (91-71, –1.00 betting units) opened as –235 home favourites for Tuesday’s AL Wild Card Game against the Minnesota Twins (85-77, +11.48 units). First pitch is at 8 PM ET on ESPN.

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