OPAP, the Greek gaming operator, had a great yr final yr. Partially on account of its additional acquisition of Stoixman, the corporate reported a 36.2% year-on-year achieve in gross gaming income.
An OPAP betting lounge in Greece. The gaming operator had a massively profitable 2021 and expects higher outcomes this yr. (Picture: G3 Newswire)
OPAP had a robust monetary place in 2021, resulting in a rise in profitability and vital advantages for shareholders. The excellent news got here through the presentation of the operator’s monetary outcomes for the entire yr to analysts.
The improved efficiency was the outcome, partly, of OPAP’s take care of Stoixman. The corporate already owned a portion of the sports activities betting operator, however spent the previous two years shopping for the remainder. Its stronger place in Greece and Europe will proceed to drive income increased.
OPAP Grows its Gaming Operations
OPAP’s gross gaming income (GGR) for FY2021 stood at practically €1.54 billion (US$1.7 billion), development of greater than 36.2% from the earlier yr. Within the fourth quarter, GGR reached €498.5 million (US$546.65 million).
Earnings earlier than curiosity, tax, depreciation and amortization (EBITDA) for 2021 reached €550.3 million (US$604.67 million, for a year-on-year achieve of 111.1%. Fourth-quarter EBITDA reached €170.4 million ($187.2 million).
Total, the fourth quarter of 2021 was traditionally among the many best-performing ones, when it comes to GGR, and the corporate’s money balances strengthened additional,” said OPAP CEO Jan Karas.
Web revenue for 2021 stood at €259.4 million (US$285 million), 26.4% increased than the earlier yr. As well as, the fourth quarter’s internet revenue was €86.1 million (US$94.6 million).
Because of this, the Board of Administrators of OPAP proposed the distribution of a gross dividend of €0.50 (US$0.55) per share on the Annual Basic Assembly of Shareholders. Along with the already distributed interim dividend of €0.10 (US$0.11), the dividend for 2021 quantities to €0.60 (US$0.66) per share.
As well as, the Board proposed to the AGM the distribution of €0.90 (US$0.99) per share as capital return. In whole, the shareholders’ remuneration for the monetary yr 2021 quantities to €1.50 (US$1.65) per share.
Resiliency and Restoration Drive Outcomes
Jan Karas, OPAP’s CEO, highlighted the “resilient efficiency” of the corporate’s retail actions as an element for final yr’s success. As he identified, regardless of the continuing challenges of the COVID-19 pandemic, the restoration of the retail community accelerated.
A key function was performed by the corporate’s complete business plan and initiatives that centered on the client’s leisure and digitalization. Amongst different issues, the OPAP Rewards loyalty program met nice acceptance, with roughly 600,000 registered clients on the finish of 2021 and significantly excessive ranges of energetic customers.
As well as, Karas stood on the brand new OPAP Retailer App. This upgrades the digital expertise in OPAP, permitting clients to play and accumulate their earnings digitally, with out visiting the corporate’s retail institutions. The pilot part is accomplished, and the complete operation of the applying will begin throughout the second quarter of 2022.
Furthermore, the digital improve of the community continues dynamically, as greater than 1,100 businesses have already put in good digital infrastructure and fashionable audiovisual tools. Additionally, the corporate additional strengthened its product portfolio by together with new choices in Powerspin and Pame Stoixima, upgrading digital video games and optimizing video lottery terminals.
On-line Exercise Rising
On-line exercise continued to be a key driver of development. OPAP’s on-line buyer base developed additional, because of the enhancement of on-line merchandise, upgraded front-end environments, and focused CRM actions.
Karas centered on the latest presentation of the renewed dwell on line casino of the Pamestoixima.gr platform. This affords a classy gaming expertise and Greek sellers at dwell interactive tables. He additionally highlighted the supply of Virtuals+, which affords clients the widest number of digital sports activities.
