Tag Archives: greece

OPAP secures Greek market clearance on Stoiximan investment

Greece’s markets & competition authority HCC has granted its approval for market leader OPAP to acquire a majority stake in online bookmaker Stoiximan Group. The transaction initiated at the start of 2019, sees OPAP agree to acquire a 51% stake in Stoiximan for €95 million, a Greek and Cypriot online sportsbook property operated by Malta-based European online gambling group GML …

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Greece sets affiliate licensing conditions for revamped gambling market

Further requirements published in Greece’s approved new gambling bill, will require affiliate marketing partners to register and pay a €1,000 licensing fee with the Hellenic Gaming Commission (HGC). This October, following a year of deliberation, the Greek Parliament progressed final amendments of its new gambling bill, which will introduce a modern regulatory framework for online gambling services. Serving as lead …

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Greece approves passage of new gambling bill modernising industry frameworks

The Greek government has settled on amendments to finally approve the passage of its revamped gambling bill, launching the country’s first regulated online gambling framework. First sanctioned in September 2018 with the aim of overhauling Greek gambling’s licensing regime and industry-wide regulations, final provisions of the new gambling bill have been approved by the European Commission (EC) and Greece’s House …

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Greece shows no movement on 35% GGR tax rate

Seeking to reform its online gambling marketplace, the Greek government maintains that it will stand by its contested 35% tax charge on gross gambling revenues (GGR). At the start of October, the Greek government approved a series of reforms updating the nation’s gambling frameworks with regards to licensing and taxation. Controversially, the Greek government retained its 35% GGR tax charge but …

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Goalbet challenge sees Greek Council revoke OPAP online betting licence

Athens-listed gambling group OPAP SA is facing disruption in its home market of Greece following the decision taken by the State Council to revoke the operator’s online sports betting licence. Judges of Greece’s highest-ranking administrative court upheld an appeal made by Austrian operator Goalbet, who challenged the Hellenic Gaming Commission’s (EEEP) licensing approval of OPAP online sportsbook subsidiary Pame Stoixima. The …

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VLT upgrades deliver for Greek OPAP chasing its 2020 vision

The governance of Athens-listed gambling group OPAP SA publishes its 2019 interim results (period ending 30 June), confident of delivering on its future prospects, serving the mandate of its 2020 corporate vision. Updating the market, OPAP records a 6% increase in group gross gambling revenues (GGR) to €779 million (H1 2018: €737m), driven the significant improvement of its upgraded retail …

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Dire H1 2019 sees Intralot suffer declines across all business verticals

Publishing its 2019 interim results (period ending 30 June), Athens-listed gambling technology group Intralot SPA reports continued operating declines across its three core business verticals of ‘Licensed Operations’, ‘Management Contracts’ and ‘Technology Provisions’. A tough H1 2019 trading period sees Intralot governance outline multiple factors impacting the company’s performance, including negative currency fluctuations, macro impacts, decreasing management contracts combined with further …

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SAZKA confirms OPAP takeover intent

Czech gambling conglomerate SAZKA Group has clarified its intentions to secure ‘full control’ of Athens-listed OPAP SA, Greece’s largest lottery and sports betting operator. On Monday, the Athens Securities Exchange temporarily suspended OPAP’s listing, announcing that the gambling group anticipated a ‘major imminent corporate event’. This morning, Reuters disclosed that SAZKA governance had submitted a formal Athens Exchange filing detailing …

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Athens suspends OPAP listing on speculation of SAZKA takeover

The Athens Securities & Exchange Commission has this morning moved to temporarily suspend the listing of OPAP SA, in light of speculation of a ‘major imminent corporate event’. Greek business news sources this morning report that Czech gambling conglomerate SAZKA Group seeks to significantly expand its holdings in OPAP, the former state-owned enterprise and Greece’s largest lottery and sports betting …

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Transformative 2018 sees OPAP confident of future prospects & identity

Athens-listed gambling group OPAP SA has published its full-year 2018 results, detailing a transformative year for its business, undertaking a number of critical upgrades and refinancing its operating structures. “2018 marked the 60th anniversary of OPAP’s foundation and the entire OPAP team is proud of what was achieved in this historic year. We successfully delivered all of our key business …

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