OPAP announces egaming partner shortlist
Greek monopoly will choose service provider by third quarter
OPAP has shortlisted three software firms, GTech G2, Playtech, and Intralot as its potential online gaming supplier when it expands its services later this year.
Chief executive of the Greek betting monopoly, Yannis Spanoudakis told reporters today that OPAP plans to select the vendor by the third quarter.
A spokesperson for OPAP told eGaming Review that the company is building scenario-based business models with each shortlisted provider, as the Greek regulator is yet to confirm which forms of online gambling will be allowed.
He did, however, confirm that the chosen supplier will help take the state lottery – for which OPAP holds the exlusive rights – online for the first time.
OPAP will hope the move into online gambling will boost its ailing finances. Last week the company announced its results for the year ended 31 December, with revenues plummeting 15.2% year-on-year. The 700m revenue decline, from 5.1bn to 4.4bn, was accompanied by a 6.7% fall in net profit to 537.5m, compared to 575.8m in FY 2010.
The Greek government yesterday announced it is to sell off a 29% stake in OPAP as part of plans to generate much-needed revenue to ease the country’s 55bn debt mountain. The government would retain a 5% stake in the company.
When contacted GTECH G2 refused to comment, while Intralot and Playtech were not available for comment.