OPAP released H1 16 results which were roughly in line with our expectations and slightly above the consensus. Total amounts wagered reached €2.1bn in the first half, down 4.3% yoy and broadly in line with the consensus. Gross Gaming Revenue (GGR) reached €678.8m, down 2.6% yoy, while GGR was down by 0.8% during the second quarter, at €338.1m (-4.4% yoy during Q1 16). The GGR contribution and other levies and duties rose 10.5%, mostly reflecting the 5ppts increase in GGR tax ap
