OPAP reported soft Q4 19 numbers, missing consensus estimates. The growth in VLTs and sports betting offsets the greater-than-expected weakness in lottery. In light of the COVID-19 outbreak, the firm has suspended the dividend proposal temporarily and extended the OPAP store and gaming hall closures. Following the update, we will be lowering our estimates and target price. Additionally, the firm announced the departure of CEO Damian Cope, who will leave the firm at the end of his contract in
03 Apr 2020
Soft Q4; COVID-19 hits operations
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Soft Q4; COVID-19 hits operations
- Published:
03 Apr 2020 -
Author:
Virendra Chauhan -
Pages:
3
OPAP reported soft Q4 19 numbers, missing consensus estimates. The growth in VLTs and sports betting offsets the greater-than-expected weakness in lottery. In light of the COVID-19 outbreak, the firm has suspended the dividend proposal temporarily and extended the OPAP store and gaming hall closures. Following the update, we will be lowering our estimates and target price. Additionally, the firm announced the departure of CEO Damian Cope, who will leave the firm at the end of his contract in