OPAP released its full-year numbers, in line with market expectations and our forecasts. Key highlights Group Gross Gaming Revenue (GGR) was down 0.2%, at €1,398m, just 0.5% below our number, while total stakes were down by 0.6% (-0.8% in Q4) but 0.6% above market expectations. Unsurprisingly, group EBITDA fell 18.4%, at €307.5m (market €304m, AV €305m) as earnings were impacted by the increase in GGR tax. Net income came in slightly above expectations, at €170m (mark
30 Mar 2017
FY16 in line, supported by comfortable yield
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FY16 in line, supported by comfortable yield
- Published:
30 Mar 2017 -
Author:
Edouard Enault -
Pages:
3
OPAP released its full-year numbers, in line with market expectations and our forecasts. Key highlights Group Gross Gaming Revenue (GGR) was down 0.2%, at €1,398m, just 0.5% below our number, while total stakes were down by 0.6% (-0.8% in Q4) but 0.6% above market expectations. Unsurprisingly, group EBITDA fell 18.4%, at €307.5m (market €304m, AV €305m) as earnings were impacted by the increase in GGR tax. Net income came in slightly above expectations, at €170m (mark