The board of directors of OPAP, Greece’s dominant lottery and sports betting operator and a subsidiary of Allwyn, has approved interim financial statements for a 35-day period from Feb. 24 to March 31, 2026, alongside a plan to distribute a portion of profits to executives, senior management and staff.
The move comes as part of the company’s compensation framework, tying short-term performance to variable pay. Based on the results, shareholders authorized bonuses and incentive payments that could total as much as €14.4 million ($15.4 million), underscoring the company’s continued profitability despite a relatively short reporting window.
For the period, gross gaming revenue—a key industry metric reflecting wagers minus winnings—reached €46.08 million. After accounting for regulatory levies and other deductions, net revenue stood at approximately €20.67 million. The company’s cost structure remained heavily influenced by commissions paid to its extensive retail network of agents, which totaled €35.54 million, alongside €9.73 million in other direct costs.
Additional income streams provided support, including €4.74 million in revenue from non-gaming activities. A further €23.21 million was recorded from the amortization of the company’s exclusive license extension, which secures its market position in Greece through 2030. Operating expenses included €8.45 million in payroll, €6.34 million in marketing and advertising, and €11.79 million in other operating costs. Financial expenses, largely tied to borrowing, came in at €3.64 million.
On the balance sheet, total assets stood at €1.41 billion at the end of March, with €611.9 million in noncurrent assets and €801.9 million in current assets. Equity amounted to €146.7 million, while total liabilities reached €1.27 billion, including €835.3 million in long-term debt and €81.98 million in short-term borrowing.
The approved compensation package includes up to €1.6 million in bonuses for executive board members and as much as €6.9 million for senior managers and employees across key roles. In addition, multi-year incentive payments could allocate up to €2.7 million to board executives and €3.2 million to a group of roughly 20 top managers outside the board.
