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03/07/2003 13:58
State-run soccer pool and games of chance operator OPAP reported revenue growth of 25.6 percent to 1,176.3 million euros in the first half year-on-year, under International Accounting Standards. Sales in the second quarter grew 15.2 percent to 540 million euros. The company did not release profit figures. The growth was mainly due to sports-betting game Stichima and two new games, Super 3 and Extra 5, launched in November. Revenue from the Joker and Lotto games were down year-on-year. Overall, revenue from sport betting games rose 10.5 percent to 420.6 million euros in the second quarter, with lottery revenues up 35.3 percent to 119.3 million. OPAP, 75.6 percent owned by the State, is currently valued at 2.83 billion euros. The State plans to divest a total of 78 million shares in OPAP, which correspond to 24.45 percent of its share capital, reducing its holding to 51.15 percent. At current market prices, Greece could raise about 700 million euros from the sale.