Q4 Slowdown Dampens OPAP's 2026 As Firm Enters Allwyn Era
OPAP has released its last full-year financial statement as a standalone entity, with the Greek video gaming group now part of the combined Allwyn brand following the completion of the duo's merger.
The formerly state-owned sports betting and lotteries company published its complete monetary results for 2025 today, revealing gross video gaming earnings (GGR) of EUR2.4 bn (₤ 2bn) across the full 12 months of the year - 4.9% more than the EUR2.29 bn the year prior.
This development was associated to a strong performance across both retail and online verticals, with sports wagering sticking out as the second largest earnings generator. Betting income was available in at EUR782.2 m - up 1.4% on EUR771.6 m the year prior.
The very same could be stated for other verticals, with earnings from lottos - the largest section in general for OPAP offered the company is the operator of the Greek National Lottery - rising 3.7% from EUR774.8 m to EUR803.7 m. Revenue from video lottery game terminals (VLTs) also increased 6% from EUR344.7 m to EUR365.5 m.
"FY 2025 was a highly successful year for OPAP, marked by a new GGR record, which led to the shipment of our outlook," stated Jan Karas, OPAP's President.
"The outcomes of 2025 were generally driven by the remarkable efficiency of Tzoker, the solid growth of KINO, and the continuing growth of the iGaming vertical.
"In addition, online activities concluded the year with a 32% contribution to OPAP's GGR - the highest in the last four quarters - while our iLottery proposal continued acquiring momentum.
"Moreover, the highlights of Q4 '25 include the robust efficiency of VLTs and the outstanding development of PowerSpin, which recorded a 27% increase.
OPAP has released its last full-year financial statement as a standalone entity, with the Greek video gaming group now part of the combined Allwyn brand following the completion of the duo's merger.
The formerly state-owned sports betting and lotteries company published its complete monetary results for 2025 today, revealing gross video gaming earnings (GGR) of EUR2.4 bn (₤ 2bn) across the full 12 months of the year - 4.9% more than the EUR2.29 bn the year prior.
This development was associated to a strong performance across both retail and online verticals, with sports wagering sticking out as the second largest earnings generator. Betting income was available in at EUR782.2 m - up 1.4% on EUR771.6 m the year prior.
The very same could be stated for other verticals, with earnings from lottos - the largest section in general for OPAP offered the company is the operator of the Greek National Lottery - rising 3.7% from EUR774.8 m to EUR803.7 m. Revenue from video lottery game terminals (VLTs) also increased 6% from EUR344.7 m to EUR365.5 m.
"FY 2025 was a highly successful year for OPAP, marked by a new GGR record, which led to the shipment of our outlook," stated Jan Karas, OPAP's President.
"The outcomes of 2025 were generally driven by the remarkable efficiency of Tzoker, the solid growth of KINO, and the continuing growth of the iGaming vertical.
"In addition, online activities concluded the year with a 32% contribution to OPAP's GGR - the highest in the last four quarters - while our iLottery proposal continued acquiring momentum.
"Moreover, the highlights of Q4 '25 include the robust efficiency of VLTs and the outstanding development of PowerSpin, which recorded a 27% increase.