Edison Investment Research - Technology - OPAP: OPAP is Europe's only listed gaming operator with 100% pre-paid exclusive retail licences, providing significant barriers to entry. Despite softness in Greek retail spending, management has successfully defended profits through product enhancements and cost controls. OPAP is halfway through its 2020 Vision plan to create a leading gaming entertainment company and further momentum is underway with full deployment of video lottery terminals (VLTs), as well as a move into online. The stock tracked the Greek market down 27% in 2018, but has recovered by c 17% ytd. The business is highly cash generative, with the bulk of FCF paid out as dividends. We estimate a FY19 dividend yield of 8.3%, excluding specials.
ISIN: GRS419003009Den vollständigen Artikel lesen ...
ISIN: GRS419003009Den vollständigen Artikel lesen ...