Leading Greek gaming company leverages a wide range of betting markets and odds, as well new features, and functionalities, across its retail estate 

OpenBet, a leading content, platform, and service provider to the sports betting industry, has extended its long-term partnership with OPAP, the leading gaming company in Greece to deliver an enhanced retail betting experience.  

In this new framework, OpenBet’s technology platform and products are now leveraged across OPAP’s retail estate. 

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The migration involved more than 3,000 OPAP stores across Greece and an estimated 20,000 terminals, which are powered by OpenBet’s full suite of world-class betting technology and trading content. 

Established in 1958, OPAP, a member of the Allwyn Group, is the leading gaming operator in Greece and one of the most renowned in its sector globally. As part of its business strategy, the company is seeking to develop a compelling retail betting proposition and provide more options and greater entertainment experiences to its customers. 

OpenBet’s platform enables OPAP to offer new features and functionalities to its retail customers. From a back-end perspective, OPAP benefits from numerous software capabilities, including multipricing that allows the company to provide different odds and betting markets across retail and online. The launch of the new retail betting platform follows the successful launch of OPAP’s new online sportsbook, which is also powered by OpenBet.  

Jan Karas, CEO of OPAP, commented: “The launch of a new betting platform across a retail estate of more than 3,000 stores was a major undertaking, which was completed successfully thanks to close collaboration between the OPAP and OpenBet teams. We firmly believe that the new retail betting platform will enable us to further enhance customers’ entertainment experience at OPAP stores.” 

Jordan Levin, Group CEO of OpenBet, added: “We’re proud to have facilitated the next generation of OPAP’s retail betting offering, particularly so soon after the success of our online launch together. This is a significant milestone for both companies and strengthens our own position as a trusted provider to lotteries worldwide.” 

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NetBet has entered into a content supply agreement with IGT PlayDigital, one of the largest and best-known iGaming suppliers. The addition of such a major provider is a stark and tangible proof that NetBet is constantly evolving and not resting on its laurels.

This new partnership is a perfect opportunity to showcase IGT PlayDigital’s high-performing content such as Cash Eruption and Cleopatra to NetBet players in Greece.

Claudia Georgevici, Public Relations Manager of NetBet Greece, said: “We are delighted to announce our content partnership with IGT PlayDigital and offer the company’s excellent services and high-performing games to our players in Greece. It is our simultaneous commitment to ensure that our customers play responsibly while having fun in a safe and secure environment.”

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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).

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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).