OPAP wrapped up 2024 with its best-ever quarter, marking an exceptional financial year. OPAP Q4 2024 results highlight strong revenue and profit growth, driven by booming sports betting and iGaming. The company’s online business saw significant expansion, contributing to record-breaking numbers.

  • Gross Gaming Revenue (GGR) in FY 2024 reached €2,296.2m, up 10.0% YoY, supported by online and retail growth. Q4 2024 GGR hit a record €647.8m, marking an 11.5% YoY increase due to sportsbetting and iGaming gains.

  • Gross Profit from gaming operations increased by 13.8% YoY to €969.7m in FY 2024.

  • Operating expenses for FY 2024 stood at €425.9m, up 3.0% YoY, aligning with inflation. Q4 2024 OpEx decreased by 2.8% YoY, helped by reduced marketing costs.

  • EBITDA in FY 2024 rose by 14.0% YoY to €832.0m, with Q4 2024 EBITDA jumping 16.6% YoY to €245.1m. The quarter’s EBITDA margin was a solid 37.8%, reflecting strong revenue growth and cost control.

  • Net profit for FY 2024 reached €485.8m, a 19.0% YoY increase. Q4 2024 Net Profit stood at €133.7m, rising 32.9% YoY, supported by lower interest expenses and strong topline performance.

Segment analyses – iGaming +15.6% YoY

  • iGaming (Online Casino) revenues soared 29.2% YoY to €325.3m in FY 2024. Q4 2024 iGaming revenue grew by 20.9% YoY, hitting €92.3m, fueled by strong player demand.

  • Lottery revenues increased by 6.1% YoY to €774.8m in FY 2024, driven by a strong Tzoker performance. Q4 2024 lottery GGR grew by 2.1% YoY, reaching €201.7m.

  • Betting revenues surged 15.6% YoY to €746.2m in FY 2024, with Q4 2024 betting GGR climbing 26.6% YoY to €229.0m, boosted by an improved sports betting experience.

OPAP CEO Jan Karas stated, “Q4 2024 was exceptional for OPAP, marked by record-breaking GGR and the highest recurring EBITDA of the last decade.”

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