FY2025: OPAP hits record €2.4bn revenue
Strong iGaming performance pushed gross gaming revenue to its new high, though rising marketing and payroll costs hit profitability margins in Q4.
1 min read • Mar 3 • By
Will Underwood
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bet365 Partners
Kanggiten
JDB Gaming
GR8_TECH
BetConstruct
DYG
Bally’s Intralot
ReferOn
Z-Gaming
Galaxsys
SmartSoft
GammaStack
N1 Partners
Global Gaming Awards
1spin4win
OMNIPLAY
Logifuture
Imagine Live
GammaSweep
AMATIC Online
GammaPlus
Strong iGaming performance pushed gross gaming revenue to its new high, though rising marketing and payroll costs hit profitability margins in Q4.
Group normalised revenue reaches $584.9m as trading conditions remain weak.
Despite reporting a FY2024 net income of $50.7m, Golden Entertainment witnessed a $6m net loss for the full-year period in 2025, while Q4 revenue fell 5.2% for a total of $155.6m.
Fourth quarter edges higher year on year though full-year profit declines.
The operator reported a 94% decrease in net income for Q4 2025 to $10m, while FanDuel revenue climbed 33% during the quarter to $2.1bn and 20% year-over-year to $7bn for FY2025.
Co-Founder and Co-CEO, Jesper Sogaard, called 2025 a transformational year for Better Collective.
The Company achieved a 7.8% increase in operating profit compared to 2024 while making notable advancements in its ESG agenda.
Despite the FY2025 loss increasing 169.8% from the previous full-year period’s loss of $313.3m, Penn Entertainment managed to lower its Q4 2025 loss by 45.1% to $73.4m.
Adjusted EBITDA rose to HK$14.5bn (US$1.85bn) for the year as the operator expanded its entertainment portfolio.
Despite also reporting a 7% increase in FY2025 revenue to just over $2.9bn, Churchill Downs also witnessed a net income decrease during the full-year period, falling 10.3% to $383m.