OPAP reported good Q3 19 numbers, beating estimates on both the topline and bottomline. Revenue came in at €393.6m (+6.7%) with EBITDA at €101.6m (+16.5%). The VLT segment (+43.2%) was back on the fast track, driving the bulk of the growth and offsetting the weakness in Betting (-5.7%). Lottery (+4.1%) reported a stronger than expected quarter while Instant & Passives (+1.8%) was back in the black. Following the strong Q3 numbers, we will be raising our estimates marginally.
29 Nov 2019
Good Q3: Lottery surprises and VLT roll-out resumes
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Good Q3: Lottery surprises and VLT roll-out resumes
- Published:
29 Nov 2019 -
Author:
Virendra Chauhan -
Pages:
3
OPAP reported good Q3 19 numbers, beating estimates on both the topline and bottomline. Revenue came in at €393.6m (+6.7%) with EBITDA at €101.6m (+16.5%). The VLT segment (+43.2%) was back on the fast track, driving the bulk of the growth and offsetting the weakness in Betting (-5.7%). Lottery (+4.1%) reported a stronger than expected quarter while Instant & Passives (+1.8%) was back in the black. Following the strong Q3 numbers, we will be raising our estimates marginally.