Greek Gambling Monopoly Has Online Betting Plans

Internet wagering facilities to be made available when permitted by Greek regulators says OPAP

Ioannis Spanoudakis, the chief executive of Greece's state gambling monopoly OPAP has online gambling in mond once regulators give their greenlight.

Speaking at the presentation of the group's 2009 results, Spanoudakis said: “Our strategic focus is to enhance and solidify OPAP’s position in the domestic market in 2010 and over the coming years by further improving the quality of our existing games and the appeal of our franchise, preparing for the expansion into new activities such as video lottery terminals, scratch tickets and online sportsbetting when permitted by the regulator, actively supporting the State in its efforts to confine illegal betting and optimising OPAP’s cost base and improving its operational efficiency.”

The group posted a 1.4 percent year-on-year decrease in revenues to Euro 5.4 billion, reporting that EBITDA fell by 8.5 percent when compared to 2008 to Euro 966.8 million while net profits sank by 18.5 percent to Euro 593.8 million.

Management attributed the decline to a shortage of major sporting events and the negative economic climate, but pointed out that adjusted net profits for the year dropped only five percent to Euro 691.9 million.

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