Tag Archives: OPAP

Cyprus government reviews OPAP monopoly arrangement

OPAP Q3 bounce back hurt by continued lottery declines

Seeking to prepare its market for future regulations, the National Betting Authority of Cyprus (EAS) has begun its crackdown on online gambling sites deemed to be targeting national consumers. The actions of the authority have been granted by the Cypriot Finance Committee with a view of creating fair market conditions for sports betting operators seeking a Cyprus license application. The …

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Challenging environment hurts OPAP Greece profits as company prepares for VLT restart

Closing its Q3 2016 (period ending 30 September), Greek gambling operator OPAP has posted a 40% decline in net profits to €29 million (Q3 2015: €49 million). The operator informs its stakeholders that it is continuing to adapt to a ‘challenging environment’ in which it operating margin has been impacted by higher taxes of 35% by the Hellenic Republic. Adjusting …

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OPAP expands live betting soultions with Betradar

OPAP Q3 bounce back hurt by continued lottery declines

Industry data and analytics provider Betradar has secured an extensive live betting solutions partnership with Greek licensed gambling operator OPAP. The partnership will see OPAP the biggest bookmaker in Greece integrate Betradar provisions for automated live betting markets and in-running trading services throughout the operator’s retail and online betting network. OPAP governance detailed that Betradar live betting services were needed …

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Greece approves fixed 35% online gambling duty

Seeking to meet the qualifying criteria for its next EU sanctioned loan tranche, the Greek Syriza government has approved a fixed 35% Gross Gaming Revenue duty on licensed online betting operators. Imposed loan sanctions by the EU require Greece to meet a surplus of 3.5% of its national budget, with the beleaguered country having to raise an additional €1.5 billion …

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OPAP welcomes Damian Cope as new CEO following leadership responsibility split

OPAP Q3 bounce back hurt by continued lottery declines

Greek licensed gambling operator has announced the appointment of former Ladbrokes International MD Damian Cope as its new Chief Executive Officer. The appointment of Cope follows an internal review process of OPAP governance, which saw the operator split its corporate leadership roles of CEO & Chairman. The decision which will come into full effect on the 1 July, will see …

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Synot agrees OPAP VLT services partnership

Czech Republic gambling provisions operator Synot Group has confirmed that it will supply 2,000 video lottery terminals (VLT) to Greek licensed gambling operator OPAP. Synot services have been selected to be one of four primary VLT suppliers for OPAP the Greek monopoly gambling operator. Commenting on the agreement Ivo Valenta, chairman of SYNOT’s board of directors, stated “We consider this …

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Greek OPAP reports 19% revenue increase for Q3 2014 performance

OPAP Q3 bounce back hurt by continued lottery declines

Greek gambling and sports betting operator OPAP reported a 19.1% €1.1 billion revenue increase for its Q3 2014 performance (Q3 2013 – €898 milion). The operator was able to secure an improved net profit performance of 25.9% €55.9 million (2013 Q3 €44.4 million). The operator stated that its increase in revenues and profit performance had been driven by improved player …

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Greek Court deems OPAP monopoly legal

Greece’s High Court  ruled on Tuesday that former state owned operator OPAP’s monopoly of betting markets was legal. The courts rejected a long standing challenge put forward by international operators disputing the OPAP’s handle on betting and lottery operations in Greece. OPAP monopoly of Greek lottery and sports betting, had been challenged by William Hill, StanleyBet and Sportingbet. The operators …

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