Analysis GREECE


tenuous state of the Greek economy is now making this step more imminent and the government recently appointed an adviser regarding the renewal of the operating licence held by OPAP.


OPAP was founded in 1958 and is Europe’s biggest betting group by market value and operates lottery games such as Lotto, Proto, Joker, Super3 and Kino plus sports betting games like Propo and Pame Stihima. The group has a 20 year exclusive licence for all its current sports betting and lottery games and the exclusive right to operate new sports betting games. This runs until 2020. Annual revenues from games amount to €5.14bn last year, a six per cent decline on the previous year.


The year 2010 proved difficult for OPAP as the financial crisis hit leading to a slowdown in game revenues particularly in Kino combined with a new tax structure of prize payouts to the lottery and betting winners and the no smoking ban in all public places including lottery agencies. Since the new socialist government came into power there have also been reports of board member resignations from OPAP.


OPAP has more than 5,000 commission


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