OPAP Q3 bounce back hurt by continued lottery declines

OPAP Greece speeds up infrastructure plan with €200 million bond issue

Greek gambling operator OPAP, will speed up its internal investment plans having secured a €200 million bond issue, through Greek and foreign investors. 

The bond will provide the company with the funds needed to carry out its ambitious video lottery terminals (VLT) expansion and upgrade its lottery and gambling networks.

OPAP governance detailed that its gained investment would be split into the following components; €72 million to be used for IT infrastructure improvements, €25 million invested in VLT expansion, €20 million for the installation of self-service betting terminals.

FTSE-listed gambling technology provider Playtech Plc, through its new business division Playtech BGT, has been selected by OPAP for the supply of software licenses and services for self-service betting terminals (SSBTs) and the subsequent introduction of a full sports betting solution for OPAP agencies network. On February, both parties confirmed that they had agreed a three-year services agreement with Playtech BGT Sports.

Updating the market, OPAP governance detailed that its funding plans had been approved by company shareholders as a “vote of confidence in its strategic plans”. Furthermore the company detailed that it had been offered access to twice the investment by funding parties.

Entering 2017, OPAP governance has detailed the importance of its upgrading its infrastructure stating that it will be the firm’s ongoing key project.

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