OPAP has been named as the preferred bidder for the next 12-year lottery concession in Greece.
The concession enables OPAP to continue as the exclusive operator of state lotteries in Greece, having held the concession since 2014.
OPAP will pay an initial one-off fee of €80 million to the Greek state, alongside 30 per cent of gross gaming revenue annually, subject to a minimum revenue share payment of €20 million per year.
“We are pleased with the successful outcome of the tender. This development allows us to continue to provide, for the next 12 years, games that have been particularly loved by the Greek public, through our broad network,” said OPAP chief executive Jan Karas.
“At the same time, this gives us the push to focus even more on the games’ evolution and revamp, always based on customers’ needs and expectations, as well as by utilising innovative approaches in our propositions. We are moving dynamically into a new era for lotteries.”
The concession for the Greek State Lotteries includes the Instant State Lottery, the Laiko Lottery, the National Lottery, the Special State Lottery for Social Welfare (New Year’s Lottery), the Housing State Lottery (currently inactive), and the Special Lottery drawn by the European Association of State Lotteries (AELLE) (currently inactive).
Panagiotis Stampoulidis, Deputy CEO of Greece’s Growthfund, commented: “Growthfund has completed, with transparency and speed, the tender process for the 12-year concession of the State Lotteries, securing a satisfactory fee while safeguarding the interests of the Hellenic Republic.
“We are confident that the declaration of OPAP Investment Limited as Preferred Investor, given its extensive experience in the gaming market, ensures the continuity of the State Lotteries institution, through which important social initiatives are funded.”
Shares in OPAP SA (ATH:OPAP) were unchanged at €17.62 per share in Athens Monday morning.