OPAP, Europe’s fourth-biggest betting business, reported a 163.5% rise in first-quarter revenue.

Gross Gaming Revenues (GGR) stood at €457.2m driven by strong retail which remained closed for the entire Q1 2021), amidst covid-19 green pass restrictions, while online continues its ongoing contribution.

Encouraging Q1’22 retail performance, during a period of challenging macro headwinds, while lift of green pass restrictions since May 1st and masks mandate on June 1st, should aid walk-in. Gross Profit (from gaming operations) in Q1’22 up by 198.3% at €189.0m (Q1 2021: €63.4m) due to increased top line alongside higher profitability margins.

Comment of OPAP’s CEO, Mr. Jan Karas, on the Q1 2022 results: “Following a strong FY 2021, OPAP posted a solid set of Q1 2022 results, driven by the solid retail contribution – despite the Covid-19 restrictions being in place – and the continuing online momentum.

This was a result of multiple business initiatives, which focused on delivering engaging entertainment experiences and led to high customer attraction and retention levels. Geopolitical tensions and inflationary pressures affect private consumption, partially offsetting the positive impact of the lifting of various Covid-19 measures. However, our results reaffirm the attractiveness of our retail and online propositions, the power of our diversified product portfolio, the resilience of our business model, and our robust financial position. Therefore, we are confident that we will continue delivering value to all of our stakeholders.