European Commission endorses OPAP privatisation plan
According to a report from the Bloomberg news service, the government’s Hellenic Republic Assets Development Fund (HRADF) agency can now officially offer the winning bidder the exclusive rights to operate 13 games of chance until 2030 in addition to a ten-year licence for the running of 35,000 video lottery terminals.
“Greece has cooperated fully with the [European] Commission to ensure that OPAP will not benefit from any undue financial advantage through the prolongation of its exclusive rights and its license for video lottery terminals,” said Joaquin Almunia, Competition Commissioner for the European Union. “This allows for a timely privatisation of the gambling operator.”
Last month saw the Greek government reach an agreement with the European Union’s competition regulator that will see any winning from OPAP games after January 1 taxed at a flat rate of ten percent, which is similar to that currently paid by online operators, while the state is to receive a 30 percent share of the gross profits from certain games through October of 2020.
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