Greece's OPAP predicts strong revenue growth in 2014

Greek gambling monopoly OPAP, one of Europe’s biggest betting firms, said it expected revenue to grow by a double-digit percentage this year, thanks to the planned launch of new games.

The forecast was included in a presentation released on Wednesday, a day after the company announced higher-than-expected first-quarter profit due to cost cuts and the robust performance of its sports betting game Pame Stoichima.

OPAP, whose sales reached 3.7 billion euros last year, launched a scratchcard game on May 1.

Chief Executive Kamil Ziegler said on Wednesday that the company would also expand into online sports betting by June 2, in time for the soccer World Cup in Brazil.

The firm, which was privatized last year and has about 5,000 outlets in Greece, also plans to launch 16,500 videolotto terminals by the end of next year, Ziegler said in a conference call with analysts.