Greek OPAP growth despite tax bill

greek greece 2iGaming Business – Greek gambling monopoly OPAP has reported better-than-expected results in the second quarter despite having been hit by a retroactive tax bill of €21.6 million ($28.5 million) in the period.

The bill dates back to the 2010 fiscal year in which the firm had amounted tax charges of €29.6 million, with the operator having only paid €9 million of the total bill so far.

After agreeing a deal with the Greek government to delay payment of the remaining balance until the second quarter of this year, OPAP must now complete full payment by the end of the quarter.

As a result of this tax hit, OPAP recorded a drop in net profit, which fell 44.5% to €15.7 million.

However, it was able to post growth elsewhere after recording earnings before interest, tax, depreciation and amortisation (EBITDA) of €68.6 million, which is up 50% on the amount recorded in same period last year.


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