Odyssey Europe Holdco S.á r.l. (“Holdco”) 2025 Q1 report is now available at http://oeg-bond.com/.
An investor update call will be held on Wednesday, June 4, 2025 at 2:00pm London time. Registration for the call is available via the secured bond investor website at http://oeg-bond.com/
Olympic Entertainment is reporting financial results for its fiscal first quarter that show gaming revenue of 58.1 million and adjusted EBITDA of 7.6 million. Gaming revenues and adjusted EBITDA were impacted by Latvian operations. The Latvia land-based market faced a smoking ban from 01 January, and the overall online market declined concurrently. In Latvia, the overall land-based market declined 18%, while Olympic operations declined 13%. The online casino unit declined, while poker and sports betting both showed growth.
Online operations showed positive performances in other markets, while reaching revenues of nearly 25m. We continue to show exceptional growth and strength in online poker and sports betting across all markets. Both OlyBet brand performance and market share are now top 3 across the Baltics where we have grown considerably the digital business over the past few years.
Current trading looks positive as online operations reached record revenues in April. Online poker and sports betting volumes continue at record levels and Latvia’s online operation returned to growth. Land-based headwinds remain yet the operations are resilient and complimentary.
The Group’s strategic focus on multi-channel business units in diverse operating markets has supported the overall transformation to digital-led financial performance. Going forward, we will drive further gains in OlyBet brand performance and online market share as internal priorities, while adjusting retail operations to match evolving trading environments. I look forward to achieving the objectives for each market and business unit with the support of our various teams.
I want to thank my CFO, my management team, all local teams, and the stakeholders who support our Group.
Best,Corey PlummerChairman and CEO