OPAP reports further drop in profits

iGaming Business – Greek gambling monopoly OPAP has cited new national tax laws and an ongoing recession in the country as the reasons behind a further drop in profit in the third quarter of 2013. OPAP, which was recently sold to Czech-Greek fund Emma Delta, posted third-quarter net profit of €44.4 million ($59.9 million), a 61% year-on-year fall, despite being higher than analysts’ average forecast of €37.2 million. The company said that a new 30% tax Greece had placed on gross gaming revenue had led to a major impact on results this year. However, OPAP was able to record a…