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.