Smooth VLT upgrade sees OPAP confident of delivering on all 2019 targets

first_img StumbleUpon Related Articles Share Submit Share Jason Ader – No Boogeyman… Activism will play a vital part in reshaping gambling August 20, 2020 Playtech goes live in the US with bet365 August 7, 2020 Retail closures have ‘severe’ impact on Playtech August 5, 2020 Athens-listed gambling group OPAP SA is confident it will deliver on its full-year corporate expectations after recording a strong Q3 2019 performance including growth across all core metrics.Continuing to reap the benefits of its VLT and systems upgrade, OPAP maintains year-to-date revenues of €1.173 billion – up 6% on year-to-date (YTD) 2018 comparatives of €1.106 billion.Publishing its latest corporate update, OPAP details that Q3 2019 trading saw the company deploy 21,000 new VLTs, hosted by 369 Play Gaming Halls and 2,022 betting agencies.“Our results in Q3 provide further evidence of the positive growth that is being delivered by the OPAP team thanks to the investments made, and hard work put in, over the last few years,” said OPAP Group Chief Executive Damian Cope. “With both revenues and profitability once again showing good growth over 2018, I believe that OPAP continues to demonstrate the sustained benefits of the company’s ongoing transformation.”Detailing a significant increase in VLT contributions (up 52%), combined with a solid lottery performance (up 2%), OPAP YTD gross profits currently track at €463 million – up 7% on YTD 2018’s €433 million.Highlighting a series of operational efficiencies, OPAP has been able to maintain its growth momentum whilst group expenditure is contained to €200 million – a 6% decrease on 2018’s €212 million.Closing a successful Q3 2019 trading period, OPAP governance reports YTD group profits of €140 million, up 33% on 2018’s €105 million.“In Q3 we saw similar trends to the first half of 2019 with solid Lottery figures and a strong VLT performance, together with the ongoing improvement of our sports betting offer,” added Cope. “In terms of customer engagement, we continue to steadily grow the number of monthly actives across Online, VLTs and our new Tora services.“We are now within a few weeks of 2020, the year that will represent the culmination of our original ‘2020 Vision’ ambition. Until then we will be focused on successfully delivering for the remainder of 2019 and in this regard, we are confident in meeting our full-year expectations.”last_img read more

Olympic Channel to embrace esports after Pyeongchang

first_imgThe Olympic Channel will be looking at using esports to engage young audiences after the Pyeongchang Olympics. A digital platform launched in 2016 with a $450 million (£320.8m) budget, The Olympic Channel has been tasked with keeping young people interested in sport.Yiannis Exarchos, The Olympic ChannelEsports was finally recognised as a sport by the International Olympic Committee in November last year, and this step is another positive sign for the industry’s future. Esports is on its way to become a billion dollar market, so it’s not too hard to see why traditional sports is opening its arms to it after years of skepticism.Yiannis Exarchos, Executive Director of The Olympic Channel explained: “As a youthful digital platform we cannot ignore the phenomenon of esports. With the channel after the Games we want to explore the area of esports more deeply.”“Esports is still a very male dominated area, 85 percent to 15 percent,” he continued. “Secondly a lot of the content is quite violent or has the violence narrative engrained to it. This is obviously very foreign to what the Olympics represent.”Exarchos doesn’t think those hurdles will get it esports’ way, though. “I don’t believe any of those three current limitations are not addressable. I believe it is a movement that has emerged out of nowhere without necessarily clear directions.”Esports Insider says: An official channel for the Olympics embracing esports is just another step in the right direction for competitive gaming. If it proves to be a success, it’d be hard to ignore esports as a viable inclusion to the Olympics in the future as has been much discussed. What form this would take of course, is very much up in the air.last_img read more