OPAP FY24 accounts reveal Greek lottery dominance

Allwyn-majority-owned Greek market player OPAP saw an uptick of 6.1% YoY in revenues generated by its lottery segment for the full 2024. 

Company data revealed that FY24 accounts were boosted by a total of €774.8m from lottery operations in comparison to the €730m at the end of December 2023. The increase was mainly attributed to the OPAP-run Tzoker lottery game and favourable Jackpot rollovers. 

Combined lottery online and retail GGR was up 2.1% YoY in Q4, reaching a total of €201.7m compared to €198m in Q4 2023. FY24 lottery revenues made up 33.7% of the total OPAP revenue (FY23: 35%).

Jan Karas, OPAP CEO, commented: “Our outstanding performance in 2024 was mainly driven by robust growth in sports betting and our igaming offering, as well as the remarkable year for Tzoker accompanied by the contribution of the newly launched Eurojackpot. 

“In addition, our online activities reached new highs, accounting for 32% of the group’s GGR, while our iLottery proposition continued gaining momentum.”

Total GGR for the full-year was at €2.3bn against the €2.1bn from 2023 – an increase of 10% YoY. Total quarterly GGR stood at €647.8m, which indicated an 11.5% YoY growth over the previous corresponding period. 

Full-year net profits were capped at €486m (FY23: €408m), up 19% YoY. FY24 Gross Profit also increased by 13.8% YoY, amounting to €970m (FY23: €852m).

Q4 net profit came significantly higher at €133.7m, a 32.9% YoY increase (Q423: €100.6m). Quarterly gross profit increased by 17.3% YoY to  €277m (Q423: €236m).

Betting was the second-largest contributor to company revenue in 2024, following the lottery. FY24 betting GGR was at  €746m (32.5% of total), compared to the €646m in FY23.

In light of the above performance, Karas told shareholders: “We are delighted to propose to the upcoming AGM a total shareholder remuneration of €1.40 per share for FY24, through the distribution of a remaining dividend of €0.80 per share in May, on top of the already paid interim dividend of €0.60 per share.”

Looking ahead, Karas stated that OPAP is on track for profitability in 2025. He added: “We are confident that we will meet our goals of maintaining steady growth and profitability, rewarding our shareholders, and meeting our sustainability and social responsibility commitments.”

https://lotterydaily.com/2025/03/21/retail/opap-greece/