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Greece

OPAP Announces Consolidated Financial Results for the Nine Months Ended September 30

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OPAP, the leading gaming operator in Greece, announced its consolidated financial results for the nine-month period ended September 30, 2023.

9M’23 Gross Gaming Revenues (GGR) landed at €1506.5m vs €1398.1m in 9M’22, higher by 7.8% y-o-y driven by solid growth in retail and strong online performance. Q3’23 GGR stood at €481.0m, lower by 3.6% y-o-y, mainly attributed to Tzoker’s unfavourable jackpot roll-overs, Sports betting higher payout across the industry and adverse one-off natural events (floods, wildfires).

Gross Profit (from gaming operations) in 9M’23 up by 7.2% y-o-y at €616.1m (9M’22: €574.8m), in line with revenue growth. Q3’23 lower by 5.5% compared to respective period last year at €193.5m (Q3’22: €204.6m).

Operating Expenses in 9M’23 at €299.0m vs €251.2m in 9M’22, higher by 19.0% y-o-y in order to support the uplift of operations in both channels. Q3’23 Opex reached €114.6m or €87.9m excluding one-off items, higher by 11.2% l-f-l compared to Q3’22.

EBITDA in 9M’23 decreased by 2.5% y-o-y at €519.9m (9M’22: €533.3m) or +0.9% l-f-l. Q3’23 EBITDA came in at €145.4m (Q3’22: €197.6m), down by 26.4% y-o-y or -12.9% l-f-l., due to headwinds impacting the top line performance, while operating expenses increased.

Net Profit in 9M’23 stood at €307.7m (9M’22: €285.8m) up by 7.7% y-o-y (+6.8% l-f-l). Q3’23 Net Profit stood at €83.3m (Q3’22: €118.5m), decreased by 29.8% y-o-y (-12.5% l-f-l).

Greece

Hellenic Gaming Commission and Health Quality Assurance Organisation Sign Deal to Combat Gambling Addiction in Greece

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Greece’s gambling watchdog and public health agency signed a three-year deal to combat gambling addiction.

The memorandum of understanding between the Hellenic Gaming Commission (EEEP) and the Health Quality Assurance Organisation (ODIPY) aims to coordinate scientific interventions and support programmes to address the social and economic impact of addiction.

“This partnership allows us to overcome bureaucratic barriers and implement effective, coordinated solutions,” said EEEP President Dimitris Dzanatos.

ODIPY CEO Christos Nestoras called the agreement “a step toward a modern, evidence-based framework that supports citizens and those in need.”

The deal focuses on promoting responsible gambling, early risk detection, psychological support and rehabilitation services. A joint committee will oversee the implementation.

The post Hellenic Gaming Commission and Health Quality Assurance Organisation Sign Deal to Combat Gambling Addiction in Greece appeared first on European Gaming Industry News.

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Compliance Updates

Fennica Gaming Secures B2B License in Greece

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Fennica Gaming has announced that it has successfully obtained a B2B license in Greece. Following the B2B licenses in Sweden and in Ontario, Canada, this subsequent milestone marks a significant step in the expansion strategy and reinforces the company’s commitment to providing top-tier Games as a Service in the European market.

The newly obtained license, granted by the Hellenic Gambling Commission (HGC), encompasses several key components such as manufacturer license, Online Casino license and VLT license. Fennica Gaming is now authorised to operate under the stringent regulatory framework of Greece, ensuring compliance with all applicable provisions and regulations. With the license Fennica is enabled to offer a comprehensive range of entertaining gaming options for online and land-based purposes for the Greek operators.

“This is yet another major achievement for Fennica Gaming and a clear demonstration of our commitment to expanding our presence in regulated European markets. Securing B2B license in Greece allows us to bring our trusted game and service portfolios to a dynamic multi-vertical gaming market with an ambition to drive growth in the region. We are excited to support our partners in delivering entertaining and responsible gaming experiences to Greek players,” said Timo Kiiskinen, Managing Director of Fennica Gaming.

The license reinforces Fennica Gaming’s position as a reliable and compliant partner that is present already at 15 regulated markets. It is a great step to support the company’s mission to offer secure, innovative and entertaining gaming solutions wider across the different markets.

The post Fennica Gaming Secures B2B License in Greece appeared first on European Gaming Industry News.

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Greece

Spinmatic goes live with Betsson in Greece

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Spinmatic, B2B provider of premium casino games, and Betsson, a giant behind one of the world’s largest betting and online casino platforms, have partnered to bring some of the industry’s most exciting titles to Greece.

Following recent launches with leading operators in the region, Spinmatic continues its upward trajectory, delivering a portfolio that’s not only tuned to local markets but also stands out globally for its quality and creativity.

This exciting new deal builds on a long-standing partnership between Spinmatic’s sister company, GoldenRace, and Betsson – who have been enjoying the most realistic Virtual Sports and solutions on the market.

Anastasios Apostolou, Gaming Manager Greece at Betsson, proudly shared “We’re pleased to launch Spinmatic’s portfolio for our players in Greece. This addition enhances our offering with a selection of visually appealing and entertaining titles. At Betsson, we’re committed to continually broadening our content library to suit a wide range of player preferences, and Spinmatic’s games are a welcome addition to our diverse line-up.”

From fast-paced Crash games like Meteoroid Deluxe to the adventure-packed Ed Jones and the Book of Seth, Betsson players now have access to some of Spinmatic’s flagship titles. Whether they’re Jackpot chasers, retro lovers or high-speed thrill seekers, there’s a Spinmatic game ready to hit the mark.

“We are proud to see our games live with Betsson, a brand known for its high standards and player loyalty,” said Norbert Mathies, Managing Director at Spinmatic. “This partnership confirms that Spinmatic’s commitment to quality and innovation is exactly what leading operators are looking for.”

Greece’s regulated igaming market continues to offer exciting opportunities for forward-thinking brands. With major partnerships already live and more launches ahead, Spinmatic is demonstrating it’s ready to push even further.

The post Spinmatic goes live with Betsson in Greece appeared first on European Gaming Industry News.

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