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Retroactive tax hurts OPAP's Q2 results

Greece's OPAP, one of Europe's biggest betting firm, 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 Greek finance ministry.

OPAP is scheduled to release its 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.

source: Reuters