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Greek Operator OPAP Posts Profit Despite Impact of Covid-19 Pandemic

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Greek gambling operator OPAP has announced its consolidated financial results for the period ended December 31, 2020.

OPAP reported revenues in FY 2020 stood at €1129.8m lower by 30.3% y-o-y. GGR came in at €230.9m decreased by 48.3% y-o-y as a result of the imposed lockdowns on retail venues. Net Profit in FY 2020 increased 1.5% to €205.3m (FY 2019: €202.4m).

Q4 2020 net profit reached €132.1m versus net profit of €61.8m in Q4 2019, while on an l-f-l basis Q4 2020 net profit dropped by 74.3%. Net profit has been positively affected by the recognition in Q4 of a €142.7m gain related to the re-measurement of the 36.75% stake held by Kaizen Gaming’s Greek and Cypriot operations.

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Jan Karas, CEO of OPAP, said: “Although Q4 was yet another quarter disrupted by Covid-19, with retail closure and restrictions imposed for tackling the pandemic, OPAP has once again demonstrated substantial operational and financial readiness to mitigate the impact, through its diversified portfolio.

On the operational front, online growth contributed significantly to our topline, with both our revenues and our customer base reaching all-time high levels. At the same time, our investment in Kaizen Gaming, which operates the leading Stoiximan brand, has been concluded, our games portfolio has been further enhanced and our retail network partners have been supported efficiently.

Looking forward and having successfully preserved our solid financial position and cash reserves, we continue – despite the still prevailing exceptional conditions – to build on what we have already accomplished. With confidence, we are pursuing the successful execution of OPAP’s new business strategy, the Fast Forward strategy, in order to deliver even better Gaming Entertainment to our customers.”

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IGT Achieves Improved ESG Score from FTSE Russell

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International Game Technology PLC announced that it has achieved an environmental, social and governance (ESG) Score of 4.3 out of 5.0 from FTSE Russell, positioning IGT in the 97th percentile within the Travel and Leisure sector of FTSE Russell’s ESG Scores. This was an improvement from IGT’s previous ESG Score of 4.2 out of 5.0 in 2023, demonstrating its ongoing commitment to enhancing ESG performance.

“As a company committed to continually elevating our sustainability practices and leadership, IGT is proud to once again achieve an improved ESG score from FTSE Russell. Through our global Sustainable Play program, we execute sustainable practices and policies throughout our company and this improved score validates our ongoing efforts,” Wendy Montgomery, SVP of Marketing, Communications and Sustainability at IGT, said.

FTSE Russell’s ESG Scores and data model allows investors to understand a company’s exposure to, and management of, ESG issues in multiple dimensions. The ESG Scores are comprises an overall rating that breaks down into underlying pillar and theme exposures. Scores built on over 300 individual indicator assessments are applied to each company’s unique circumstances. The ESG Scores align with the UN Sustainable Development Goals (SDGs), all of which are reflected in FTSE Russell’s ESG framework.

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The post IGT Achieves Improved ESG Score from FTSE Russell appeared first on European Gaming Industry News.

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Super Group Appoints Merrick Wolman to its Board of Directors

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Super Group has appointed Merrick Wolman to its Board of Directors, effective from February 18, 2025.

Mr. Wolman is the Chief Executive Officer of a global finance company and has worked closely with the Super Group executive team for over two decades.

Neal Menashe, Chief Executive Officer of Super Group, said: “We are very pleased to welcome Merrick to the board. His deep understanding of the gaming industry, alongside his wide range of experience in executive roles, will be of great value as we continue to pursue our global growth strategy and build on our successes to date.”

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This appointment brings the total directors on Super Group’s board to nine, including five independent directors.

The post Super Group Appoints Merrick Wolman to its Board of Directors appeared first on European Gaming Industry News.

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Kindred Reports Decline in Revenue from High-risk Players for Q4 2024

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Kindred Group has reported decline in its share of revenue from high-risk players for the fourth quarter 2024 at 2.7% (Q3 2024 3.2%). The percentage of detected customers who exhibited improved behaviour after interventions showed an improvement at 92.2% (compared to 87.3% in Q3 2024). This positive trend is mainly the result of stricter measures across key markets, improved internal processes, as well as the exit from non-locally licensed markets as part of to the acquisition by La Française des Jeux (FDJ) in October 2024. This shift reflects Kindred’s broader commitment to maintaining high regulatory standards and fostering safer gambling practices.

“It is pleasing to see the decline in high-risk revenue during the fourth quarter of last year. We know that the share fluctuates between quarters, but the long-term trend is showing a steady decline. We remain dedicated and focused on improving our systems and processes to ensure we offer our customers a safe and fun experience,” Esther Scheepers, Head of Responsible Gambling at Kindred Group, said.

“The increased focus on responsible gambling by regulators and the industry is welcomed. From our end, we see that by combining our expertise with emerging technologies, we can further enhance detection capabilities. We are currently working on our existing detection system in combination with an additional system that will enable us to integrate more robust compliance features and optimize our overall approach to safer gambling. Furthermore, we are exploring opportunities to expand our research efforts, aiming to support data-driven discussions and looking at emerging trends in consumer protection. All these aspects are important to protect the integrity of the licence model and maintain a level playing field,” Esther Scheepers added.

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