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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.”
Gambling News :
MPNPT Malta Day 2 -
The final table is set in the €550 MPNPT Malta Main Event, with nine players still in contention for the trophy and €35,000 top prize. Out in front, by a large margin, is Italian online pro Alessandro Siena, with nearly double the chips of second place Cihan Eren.
MPN Poker Tour Malta Day 1A -
The MPN Poker Tour has returned to Casino Malta this week, with a €150,000 guaranteed €500 + €50 Main Event running alongside a full complement of side events, parties and activities.
€8 million mobile jackpot win on Mega Moolah -
Mega Moolah was hit on Tuesday 25 April 2017 by a Tipico player playing on their mobile device, just over a month after a €6.6 million jackpot was collected in March. The pay-out of €8,012,153.35 is the largest mobile jackpot win in history, superseding Microgaming’s pay-out in August 2016 of €7,968,311.26.
NHL Odds: Young Oilers Face Veteran Ducks in Round Two -
Game Two in Anaheim (10:30 PM ET on NBCSN) features the first and second ranked teams in the Pacific Division during the regular season, with only two points separating them. The Oilers edged the Ducks 3-2 in regular season games, outscoring them by a slim 14-12 margin. This series will be close, and Game Two will decide who has the edge heading back to Edmonton.
Americas Card Room Online Super Series Starts Now -
The OSS Cub3d is Americas Cardroom’s 3-part tournament series. It features the Mini Online Super Series (MOSS), the now-underway Online Super Series (OSS), and the upcoming Bigger Online Super Series (BOSS).
New Quick Seat feature at Ignition Poker -
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Finnish people prefer the government to run the casinos -
Nordic countries have been, historically, the main markets for the online casino operators. The reasons for this are rather clear - these countries are very cold and people simply prefer to stay home and gamble than go outside to visit a casino.
NBA Odds: Chalk-Heavy Warriors Host Portland for Game 2 -
The Golden State Warriors needed a strong fourth quarter to put away the Portland Trail Blazers on Sunday. But they still didn’t cover as 15-point home favourites in a 121-109 victory. Can they do better this Wednesday (10:30 PM ET, TNT) in Game 2 of their first-round playoff series?
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