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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).

Casino Content

DEGEN Studios launches full games portfolio with Novibet in Greece

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DEGEN Studios has taken its full games portfolio live in Greece with Novibet, expanding its distribution in the regulated market.

The operator, founded in 2010, said it has grown into an international GameTech business with operations across Europe and the Americas and now offers more than 8,500 casino games.

The launch includes DEGEN titles such as Zoomania, Vendetta Fury and Penalty Pro.

Danny Gordon, Head of Studio at DEGEN Studios, said: “Novibet is just the kind of partner we want to be working with. They understand that players are looking for something with a bit more edge, not just another version of the same experience. Our games are built to feel different from the moment they load, whether that’s through the worlds we create or how the gameplay unfolds, and that lines up well with what Novibet is building in Greece. This is a strong step as we continue to expand across key regulated markets.”

Foteini Matthaiou, Executive Director of Casino at Novibet, added: “At Novibet, we are committed to continuously enriching our content portfolio with high-quality games that deliver engaging and diverse player experiences. DEGEN Studios brings a distinctive creative approach, and we are pleased to introduce their titles to our players in Greece.”

The post DEGEN Studios launches full games portfolio with Novibet in Greece appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Adam Lamentowicz

Bragg Powers Super Technologies’ Entry into Greece with RGS and Aggregation Offering

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Bragg Gaming Group announced its role in supporting Super Technologies’ successful launch in the regulated Greek market through its flagship brand, Superbet, marking a significant milestone in Bragg’s ongoing global expansion strategy.

Through this partnership, Bragg is delivering its RGS games alongside its HUB aggregation platform, providing access to a diverse portfolio of premium 3rd party content. This includes titles from leading studio partners such as Playson, Wazdan, IGT, Synot and Spribe.

The launch represents Superbet’s official entry into Greece, one of Europe’s most mature and well-regulated iGaming markets, and further strengthens Bragg’s position as a key technology and content partner for tier-one operators expanding into new jurisdictions.

Superbet’s launch combines a “sports-first” philosophy with a compelling iGaming experience tailored to local player preferences. Over the past 12 months, Superbet has built a strong local presence in Athens, enabling a highly localised approach supported by global expertise.

This launch underscores the scalability and flexibility of Bragg’s platform, enabling rapid market entry while delivering localised, high-quality player experiences in regulated environments.

Neill Whyte, Chief Commercial Officer at Bragg Gaming Group, said: “We are delighted to support Superbet’s entry into Greece with our full suite of RGS and aggregation capabilities. As the preferred partner to Super Technologies, this launch reflects a partnership built to win.

“It highlights the strength of our technology and content ecosystem and our ability to scale in regulated markets. Greece is an exciting opportunity, and we look forward to supporting Superbet’s long-term growth in the region while continuing to power this commercial brand across multiple territories.”

Adam Lamentowicz, Chief Commercial Officer CEE at Super Technologies, said: “Every decision that we take is based on our customer-centric vision. And our partnership with Bragg serves this vision by offering the best entertainment experience to our Greek customers. Greece is a mature and thriving market, and we are confident that our product offering will have an immediate impact.”

The post Bragg Powers Super Technologies’ Entry into Greece with RGS and Aggregation Offering appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Fonbet.gr

Spinmatic Inks Strategic Tie-Up with Fonbet Greece

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The supplier says the integration is complete and plans missions, bonus campaigns and tournaments to support Fonbet’s casino growth strategy.

Spinmatic has launched its slot content with Fonbet.gr in Greece, formalising a new partnership focused on growing Fonbet’s casino offering in the market.

Spinmatic said Greece is a priority territory in its expansion strategy and that the deal is designed to introduce its slot portfolio to Fonbet’s customer base via the operator’s cross-selling approach from sportsbook to casino.

The supplier said the partnership will be supported by a roadmap of activations, including bespoke missions, bonus-driven campaigns and competitive tournaments, aimed at driving sustained engagement and “long-term GGR growth” as play shifts toward the casino vertical.

Norbert Mathies, Managing Director at Spinmatic, said: “Greece is a market where we see incredible potential, and partnering with a reputable brand like Fonbet is a key step in our growth journey. We have been following their work in building a solid casino vertical with great interest. By combining our engaging, mobile-first slot games with Fonbet’s proven ability to activate and retain players, we are creating a powerful synergy. We are fully committed to supporting this partnership with a dedicated strategy to ensure our content becomes a firm favourite among their Greek audience.”

Mr. Yiannis Gangas, Heading Casino at Fonbet.gr, added: “At Fonbet, we continuously aim to strengthen our casino offering by introducing engaging and high-quality content. Our collaboration with Spinmatic marks an important step in that direction, allowing us to further diversify our portfolio with games that combine strong design, proven mechanics, and player appeal. We see this partnership as an opportunity to build long-term value, leveraging targeted activations to gradually grow our casino vertical and deliver a more dynamic entertainment experience.”

The post Spinmatic Inks Strategic Tie-Up with Fonbet Greece appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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