OPAP posted another steady quarter as it moves toward its planned combination with Allwyn. The Greek group revenue grew again despite higher operating costs. OPAP Q3 2025 results also show strong cash flow and a slight lift in net profit.
Group GGR (Gross Gaming Revenue) reached EUR 602.9m in Q3 2025, up 6.6% year on year, bringing nine-month GGR to EUR 1.76bn, up 6.5%. Net gaming revenue (NGR) increased 6.0% in the quarter to EUR 409.9m, supported by stable margins across products. Gross profit from gaming operations rose 4.8% in Q3 to EUR 253.4m, reflecting solid retail and online contributions.
Lottery revenue increased 9.8% in Q3 to EUR 219.6m, supported by strong Kino performance and a record Tzoker jackpot in August. Betting GGR slipped 0.7% to EUR 180.1m as customer-friendly results in September offset earlier gains. The company noted that sportsbook and Powerspin activity remained healthy despite the margin impact.
Online growth continued, with iGaming revenue up 14.4% in Q3 to EUR 89.8m and up 17.2% over the first nine months to EUR 251.6m. Management linked the rise to improved digital capabilities and higher player engagement. The quarter also featured new F1-themed loyalty mechanics to boost iLottery participation.
EBITDA for the quarter reached EUR 214.2m, up 0.5% year on year, while recurring EBITDA grew 1.2%. Operating expenses increased 10.9% to EUR 111.6m, driven by higher payroll and IT spending, while marketing costs eased slightly. Net profit for Q3 rose 6.1% to EUR 127.9m, with EPS up 8.5% to EUR 0.3623.
Cash flow from operating activities reached EUR 521.4m for the nine-month period, up 5.6% year on year. Net debt stood at EUR 167.2m, equal to 0.19x LTM EBITDA, after completing the EUR 201.5m acquisition of the remaining 15.51% stake in Stoiximan. CEO Jan Karas said OPAP delivered “a robust set of Q3 results, outperforming last year’s strong respective quarter.”
Please find more news here.
powered by