written and last updated by
Sam Smith at
20 Mar 2025
Journalist, Editorial Department
Greek casino operator OPAP has reported record gross gaming revenue (GGR) for 2024, driven primarily by sports betting and the iGaming sector. The company's total gaming revenue rose by 10% to €2.3 billion (₽208.9 billion). The fourth quarter of 2024 saw particularly strong growth of 11.5%, with revenue increasing from €581.2 million (₽52.8 billion) to €647.8 million (₽58.9 billion).
During this period, OPAP also experienced an increase in net quarterly profit, which rose by 17.3% to €277.2 million (₽25.2 billion). Annual profit reached €969.7 million (₽88.1 billion), marking a 13.8% increase.
Adjusted EBITDA for 2024 amounted to €832 million (₽75.6 billion), a 14% increase compared to 2023. In the fourth quarter, this figure rose by 16.6% to €245.1 million (₽22.2 billion).
OPAP's CEO, Jan Karas, commented on the company's achievements: "2024 has been an outstanding year for us. We achieved record gross revenue and the highest EBITDA in a decade. The fourth quarter allowed us to successfully close out 2024, exceeding our forecasts. We achieved these results thanks to sustained growth in sports betting, online gaming, and the launch of Eurojackpot. Additionally, our iGaming sector reached new heights, contributing 32% of total revenue."
The report also highlighted revenue from various segments of the company. Lottery revenue for 2024 totaled €774.8 million (₽70.3 billion), an increase of 6.1%. Revenue from sports betting grew by 15.6%, reaching €746.2 million (₽67.8 billion). The online casino segment showed significant growth of 29.2%, with revenues amounting to €325.3 million (₽29.5 billion).
Notably, Greek authorities have released technical details regarding the casino resort license in Athens.
