Greece's OPAP says retroactive tax to hit Q2 results

Greece’s OPAP, one of Europe’s biggest betting firms, said on Monday that its second-quarter results would be hurt by a 21.6-million-euro ($28.5 million) retroactive tax.

OPAP said in a bourse filing that the tax, which dates back to 2010, may be reduced as it has already appealed to the Finance Ministry in Athens.

OPAP is scheduled to release its financial results on Wednesday.

The firm is expected to post a double-digit percentage rise in second-quarter profit, boosted by the World Soccer Cup and the launch of a scratch card.