Greek gaming operator OPAP, which is introducing video lottery terminals to the country, reported a 15.8 per cent increase in revenues in the first quarter of the year.

Revenues for the three months to March 31 stood at €1.1bn (£785m), aided by the contribution of the Helenic Lotteries that began operating in the second quarter of last year. Its gross gaming revenue improved 11.3 per cent to €356.3m.

The group recorded net profit of €58.1m, up 16.9 per cent on the corresponding period last year.

“After one year since OPAP returned to profitability growth, we are pleased to report that 2015 started in the same way that 2014 ended,” said Kamil Ziegler, chairman and CEO. “A significant improvement was evident on both our financial figures as well as operating efficiencies across the group.

“Overall, we managed to grow our revenue and profitability base amid a volatile environment, while our actions towards the company’s offering enhancement continued on all fronts.”

OPAP’s 2015 focus will be to reinforce its core business, he said.

“The successful VLTs introduction in the Greek market will generate additional revenues for the Greek state, create new jobs and boost the real estate market. Our company has been over time and with consistency the mainstay of the Greek economy and society.”