Greek OPAP growth despite tax bill

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

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

After agreeing a take care of the Greek government to delay payment of the remainder balance until the second one quarter of this year, OPAP must now complete full payment by the top of the quarter.

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

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

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