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OPAP Q3 Earnings Report

Thursday November 26,2015 :  OPAP FEELING THE HEAT

Quarter three results impacted by unprecedented customer spending conditions.

In its third quarter report for the period ending September 30, 2015, Greek gaming firm OPAP posted  a 13 percent decline in gross gaming revenue to Euro 300.9 million, a decline in EBITDA of 7.6 percent to Euro 87 million and an 8.5 percent fall in net profit to Euro 49.1 million, driven it says by unprecedented consumer spending patterns in July.

Third quarter stakes declined by 15.7 percent to Euro 900.8 million impacted primarily by the deterioration of consumer spending in July, the company said, but had recovered slightly in August and September.

“Q3 2015 was marked by unprecedented conditions in a tough domestic macro-economic environment,” commented Kamil Ziegler, chairman & chief executive officer of OPAP.  “Consumer spending in July 2015 stood on the edge of the fiscal cliff, while our efforts towards securing our business, together with gradual sentiment normalization led to a recovery in the remaining part of the quarter.

“Overall, we were able to contain the drop to single digit on an EBITDA level, while OPAP still managed to grow in all metrics on a year to date basis.”

Looking ahead, Ziegler cautions that the outlook of the macro environment remains fragile with the company facing considerable challenges. “We therefore remain absolutely focused on defending and exploiting our established rights on every possible front.”

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Gambling News :

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

Dollars to Donuts Slot Launch - Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.

Secret Symbol Slot - RTG will soon release 'Secret Symbol', a 5 Reel Video Slot on 3/15/2017.

Microgaming is set to release three exciting new games in March - Pollen Party will literally have players buzzing with excitement as the ground-breaking, 720 way variable reel online slot is brought to life in a unique honeycomb reel layout.

NBA Odds: Resurgent Clippers Face Warriors in Oakland - After a much-needed lineup shuffle, the Los Angeles Clippers (29-27 SU, 35-21 ATS) carry a four-game SU and ATS winning streak into Thursday’s game against the best team in the NBA, the Golden State Warriors (47-9 SU, 27-27-2 ATS). Tip-off is at 10:30 PM ET on TNT.

NBA Odds: New-Look Pelicans Host Rockets on Thursday - The New Orleans Pelicans just hosted the All-Star Game and saw their very own Anthony Davis win the MVP. But the celebration was brief because the next day, the Pelicans made a huge trade,

PokerStars.CZ has launched in the Czech Republic - PokerStars.CZ has launched in the Czech Republic, becoming the first licensed online casino and poker operator under the Czech Republic’s new gaming regulation. This follows on from the approval by the Czech State Supervision of Gambling and Lotteries Department.

Luckia Games in Partnership with NYX Gaming Group - NYX will provide Luckia with its open gaming system, NYX OGS, and open platform system, NYX OPS, to support the growth of its established Spanish operation.

Sunbets to Sponsor Sutton United - Online betting operator Sun Bets has inked a one-off sponsorship deal with English association football club Sutton United for its upcoming televised clash against Arsenal FC in the FA Cup fifth round tie.

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