OPAP enjoyed improved momentum in Q224 driven by the ongoing innovation of its core products in both retail and online, and the anticipated boost from the UEFA European Football Championship 2024. Interestingly, management highlighted that the new active customers it gained for the event have spent money in other non-sports betting verticals, and a high proportion have been retained, having enjoyed the increased functionality of its games. OPAP also announced the award of the exclusive licence (versus the prior bilateral and relatively informal agreement) to run the retail operations of numerical games and lotteries in Cyprus for 15 years, which represented c 4% of group gross gaming revenue (GGR) in FY23.
