Video lotteries significantly added to the state treasury of Greece

The Greek Financial Police has released quite interesting statistics on the income of the state-regulated gambling sector. In 2017, at the filing of the industry, the state treasury was replenished by 662 million euros, and this figure exceeds the previous one by almost 35 million.

Taxpayer operators played a significant role in this. Their contributions for the year amounted to 23 million euros more than in 2016.

Among the leaders in terms of the amount of revenues brought to the state is OPAP, one of the largest gambling organizations in Greece. This company in 2017 allocated to the country 16 million euros more than in 2016. The company’s revenue growth is directly related to their VLT product – video lottery terminals.

OPAP provided data showing that their VLTs brought the company a profit of 1 billion euros for the period of Q4 2017. The company has nearly 10,000 video lottery machines at the moment, and they have already received the go-ahead for expansion. OPAP is now seeking to service around 25,000 of these terminals.

OPAP 4Q 2017 gross revenue of € 409.7 million. Compared to the same period of the previous year, the figure increased by 2.5% – 10.1 million euros. Their annual GGR also grew by almost 458 million and amounted to 1.45 billion euros. However, the firm’s net income fell 26%.

Damian Cope, CEO of OPAP, says massive change has brought them a busy year. In the first quarter, the company signed a new agreement with partners and is preparing to implement a number of new initiatives. They will presumably form the basis for the firm’s long-term growth prospects, up to 2020.

You might also like