Opap Posts 71% Drop in First-Quarter Profit on Greek Games Tax
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Opap SA, Greece’s biggest gambling company, said profit in the first quarter dropped 71 percent as a new gaming tax weighed on earnings.
Net income fell to 38.9 million euros ($50.2 million) compared with 131.9 million euros in the same period a year earlier, according to an Athens bourse filing today. Earnings before interest, tax, depreciation and amortization dropped 69 percent to 57.6 million euros from 184.4 million euros a year ago.