Key Takeaways
- Profits collapse over 70% at Greece’s monopoly gaming company OPAP.
- The company attributes the decline to a 30% gaming tax and the macroeconomic environment.
- The re-establishment of its monopoly position, coincident with the sale of the government’s stake to Emma Delta should help second half figures recover.
- The Hellenic Gaming Commission’s active measures to counter the “gray” market may reduce competition in OPAP’s key markets.
Net profits at Greek gaming monopoly OPAP fell 73.9% compared to the first half of last year, according to its latest financial report. The collapse is attributed to the economic crisis in Greece and to a 30% tax rate introduced in January this year.
