OPAP Selects GTECH G2 as its Internet Gambling Partner

OPAP has announced that it will partner with the Italian company Lottomatica. Part of the GTECH G2 group, and will start using its products as part of its internet gambling operation.

OPAP is based in Greece is one of Europe’s biggest gambling companies. The company receives the full backing of the Greek government who has a 34 percent stake in the company. OPAP has managed to increase its state monopoly on internet-based gambling activities such as sports betting and internet video slots playing.

OPAP is very profitable for the Greek government as only last year it paid 560 million Euros to the government for a license to operate 35,000 video lottery terminals and has also paid close to 850 million Euros for an extension of its sports betting license until the year 2030. This has helped the Greek government greatly in its efforts to sell off many state assets as a way to combat it spiraling debt and ever-deepening financial crisis.

The deal with Lottomatica came after OPAP was seeking to expand its line of gambling products available on the internet. There were three main software companies that were trying to get a deal agreed with OPAP; Playtech, GTECH G2 and Intralot which is a Greek-based company. Eventually the decision was made in favor of Lottomatica as part of the GTECH G2 group.

As the Greek economy continues to decline the country is expected to sell more licenses for lottery-type games in order to help with stabilize the Greek economy.