OPAP SA announces that, following the introduction of a new VLTs regulation by the Hellenic Gaming Commission (decision No 225/2/25.10.2016 published in the Government Gazette issue 3528 Β 01/11/2016), the company’s Board of Directors has therefore decided that all of the appropriate conditions are now in place to allow OPAP to restart plans for the operation of VLT products in Greece.
According to OPAP announcement “the new regulation decided by the Hellenic Gaming Commission establishes a comprehensive institutional framework that secures public interest and public revenues and at the same time allows the economic viability of the VLT business for OPAP and its partners. The new regulatory framework for VLTs takes advantage of the latest gaming technology and wholly leverages all available restrictive measures in order to protect players, in line with international best practices for responsible gaming. Moreover, OPAP will accordingly adjust its current claim against the Greek State before the London Court of International Arbitration”.
Damian Cope, OPAP CEO, commented: “Bearing in mind that the new approved regulation is among the strictest on international level, the HGC’s decision will now enable the legal development of VLTs and its fully regulated operation can create a new landscape in the gaming market in Greece. It will deliver benefits to the overall economy and contribute to tackling illegal gaming activity, bringing significant financial and social benefits for the state. Having remained absolutely focused on the VLTs project, OPAP will now enter the implementation phase of this investment and intensively work for the full deployment of the VLTs, which is a company priority for 2017”.