OPAP has recorded gross gaming revenue (GGR) of €557.9m (£483.4m) for Q2 2025, marking a 4.7% year-on-year (YoY) rise.

The Greek operator credited the improvement to a “robust online performance”, with the group’s online arm reporting a 9.2% jump in GGR.

Breaking down GGR by vertical, OPAP’s igaming segment generated €86.4m, representing a YoY increase of 24.4%, while accounting for 15.5% of the operator’s total revenue. 

The strong display was attributed to “higher player engagement” within the vertical, as per bosses. 

OPAP’s lottery division contributed the lion’s share of company-wide revenue at €180.9m, which equates to 32.4% of the topline total and marks an uptick of 2.2% YoY. 

Tzoker, OPAP’s flagship lottery game, was a large driver behind the marginal gains, as well as a number of “favourable” jackpot rollovers. 

The Stoiximan parent company’s betting vertical, which includes both sports betting and PowerSpin (a roulette-style game available online and in retail locations) was the only division to fail to report growth, with GGR from the segment falling 1.9% YoY to €178.2m. 

That slight decrease is a result of what management has described as a “muted” sports betting performance, which came due to tough comparison when analysed against Q2 2024, which included Euro 2024. 

Elsewhere, OPAP’s video lottery terminal (VLT) branch recorded a revenue rise of 7.3% YoY to €85.8m courtesy of product upgrades, while its instant wins division followed a similar trajectory, climbing 7.8% YoY to €26.6m. 

Group EBITDA increased to €191.3m, marking a jump of 4.3%, alongside a margin of 34.3%. 

OPAP generated €110m in net profit, representing an improvement of 3.6% YoY.

OPAP CEO Jan Karas said: “Q2 2025 was another strong quarter for OPAP, with solid financial results delivering 4.7% growth, despite tough sports betting comparables due to the Euro 2024 tournament.  

“Revenue growth was driven mainly by Tzoker, which maintained high levels of player engagement and performance thanks to a series of favourable jackpot rollovers, which also extended into Q3. Additionally, Eurojackpot’s positive momentum continued, supported by a new communication campaign.  

“These factors had a broader positive impact on retail footfall and all gaming verticals. Moreover, igaming delivered strong results for yet another quarter, supported by the continuous evolution of the game portfolio, user experience and loyalty proposition. 

“Overall, the Q2 results reflect the successful execution of our business strategy, as well as our ability to generate sustainable value.” 

On the H1 2025 front, OPAP posted revenue of €1.2bn, an upwards climb of 6.5% against the first six months of 2024, while NGR rose to €787.9m. 

There was also a 6.6% YoY increase in H1 EBITDA, totalling €398.4m, alongside a corresponding margin of 34.6%. 

Outside of the reporting period, OPAP secured full ownership of Stoiximan in mid-July, after acquiring the remaining 15.51% of the company, paying €191.6m to do so. 

Completion of the acquisition is expected to come in Q3 2025, subject to Cypriot regulatory approvals. 

The post OPAP’s “robust online performance” sparks 5% Q2 GGR rise  first appeared on EGR Intel.