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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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Is there a place for AI in poker? - If you are into the technology, you have certainly heard about Artificial Intelligence (AI) at least a few times. The word has become even more popular over the course of the last few years, especially with an introduction of another buzz word

MLB Odds: Mets vs. Dodgers - Injuries have kept the New York Mets (31-37, –14.14 betting units) from being all they can be this year, but they expect to have Steven Matz on the mound for Wednesday’s game against fellow southpaw Rich Hill and the Los Angeles Dodgers (44-26, +7.56 units). First pitch from Chavez Ravine is 10 PM ET on ESPN.

NBA Odds: Warriors Down Cavs in Game 5, Reclaim Title - It took a game longer than they would have liked, but the Golden State Warriors are once again the NBA champions. They beat the Cleveland Cavaliers 129-120 Monday night to eliminate the Cavs (+9 away) in five games and reclaim the Larry O’Brien Championship Trophy.

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50 WSOP Seat Satellite - Sunday, July 2nd at 3pm ET, two just days before the Fourth of July holiday, Americas Cardroom is running a 50-seat qualifier to the 2017 WSOP Main Event in Las Vegas.

NHL Odds: Series Tied Heading Back to Pittsburgh - As quickly as Pekka Rinne lost his game in Pittsburgh, he found it again in Nashville. After Game 2, there were murmurings that Rinne wouldn’t start the next game. Predators Head Coach Peter Laviolette decided to stick with his goaltender, however, and Rinne led his team to two consecutive victories at home while stopping 50 of 52 shots.

Huge Win at Bitstarz Casino - There has been plenty of big wins being landed at BitStarz lately, and yesterday, it was time again. Surprisingly it was yet another Amatic game that made one lucky player extra happy as he raked in an incredible $112,402 during an evening of intense playing.

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NBA Odds: Can Warriors Keep up the Pace in Cleveland? - The Cleveland Cavaliers head back home down 0-2 in the 2017 NBA Finals after losing the first two games straight up and against the spread to the Golden State Warriors by wide margins. Game 3 is Wednesday at 9 PM ET on ABC.

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