OPAP appoints new permanent CEO

Greece-focused online gambling and sports betting operator OPAP has promoted acting CEO Jan Karas to be its new permanent CEO.

Karas, who will take up the role properly in 2021, has been acting CEO since May, following the departure of long-standing CEO Damian Cope.

A meeting of the company’s board of directors was held on Thursday afternoon, with Karas being appointed to the board as part of his promotion, with the wider board being reconstituted for the forthcoming year.

OPAP, which has much of its operation in the retail sector via video lottery terminals (VLTs), has been severely affected by the coronavirus pandemic, with H1 revenue losses of 34.8%, but has since started on an upward trajectory, reporting flat GGR in Q3.

“During the past period, Jan had been serving as OPAP’s acting CEO, contributing significantly to the company’s business initiatives and response to the Covid-19 pandemic and the impact of the relevant restrictive measures. OPAP executive chairman Kamil Ziegler said.

“We are looking forward to continue working with him, in his new capacity, in order to implement OPAP’s strategic objectives and address the challenges related to the recovery from the pandemic crisis.

“I am confident that with the support of all of us, Jan and OPAP’s highly qualified top management team, together with all our esteemed colleagues, will continue delivering long-term value for the company’s shareholders, people, partners and all other stakeholders” Ziegler added.