Insight OPAP
hired for this purpose. However, we were struck by the review done on this issue, since one of the first messages we received before we took over OPAP was that it was a company that was over- staffed .
What is the exit strategy for the shareholders of Emma Delta investment in relation to OPAP?
CZ - Mr. Jiri Smet, the largest shareholder of Emma Delta, is characterised as a long-term investor. He is trying hard to develop the company (Emma Delta) and I think its strategic thinking is to do the same with OPAP. I would say that is true for co-investor in Emma Delta, Karen Komarek.
What are the most significant changes in shareholders' agreements in Greek Sweepstakes , as regards the legal actions launched in the past?
CZ -As partners we sat and discussed these agreements. Moreover, we discussed again the service contracts for the Greek Sweepstakes. The new agreements we reached we think are fairer than the original, while there was also a more reasonable compromise on the issue of supply . We feel this is true for the fees and commissions
for our partners, Intralot and Scientific Games, and for OPAP. At the end of the day, I think we achieved a realistic and reasonable deal that
If we choose to increase the attractiveness of a game,
providing greater returns to the players, the cost should not be borne solely by OPAP, but pro
rata to all those who profit from the sales increase.
halted any legal action initiated in the past. As regards the renegotiated agreement providing technological services to Intralot, I can not make any comment, except that this agreement will be announced very soon.
Why are your agents refusing to sign a contract for the sale of lottery tickets ?
CZ - That the representatives of agents recently have issued an aggressive communication does not help the process of reaching an agreement.
But we are convinced that we can find an appropriate solution, since the commission offered is quite attractive, especially if you consider the fact that some agents will not make any new investment for the sale of this product. The basic problem is that the representatives of the agents are seeking fees of eight per cent on revenue offered to them for the initial 12-month period to apply for the 12 years of the permission. We can not fulfill this request and want a renegotiation of supply after the first 12 month period .
Is the existing agents’ commission in other games also to be revised?
CZ - It is an issue that should be discussed with the agents, either in terms of the level of commission generally, or the commission offered to each category of games. For example, if we choose to increase the attractiveness of a game, providing greater returns to the players, the cost should not be borne solely by OPAP, but allocated pro rata to all those who profit from the increase in sales. Moreover, OPAP must have the ability to increase its supplies over the generally accepted threshold of eight per cent, putting in its hands a real trade policy tool.
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