OPAP CEO Jan Karas takes on chairman role

The Greek gambling operator has announced the appointment with immediate effect.

Greece.- The Greek gambling giant OPAP has announced that its CEO, Jan Karas, has been named as chairman with immediate effect. The new role as the leader of the operator’s board will be in addition to his position as chief executive. 

Karas steps in to replace Kamil Ziegler, who the operator said had chosen to step down for personal reasons. Ziegler remains an executive member of the board. The board now has 11 members. As well as the appointment of a new chair, the independent non-executive board member Cherrie Mae Chiomento-Ferreria has been named as vice chair.

Also on the board is Allwyn chief Robert Chvátal along with Katarina Kohlmayer, Pavel Šaroch and Igor Rusek as non-executive members. Nicole Conrad-Forker, Georgios Mantakas and Theodore Panagos serve as independent non-executive members. OPAP CFO Pavel Mucha is an executive member.

OPAP reported that gross gambling revenue reached €1.08bn in H1, an increase of 5.5 per cent year-on-year. Lottery sales were up by 1 per cent at €373m, while online units contributed 30 per cent of all GGR. 

Online casino was the biggest growth driver, generating €140m, a rise of 29 per cent. Sports betting GGR reached a record €350m on the back of Euro 2024. Meanwhile, VLT revenues remained flat at €166m. 

Operating profits increased by 6 per cent to €450m while operating expenses rose by 16 per cent to €213.9m. EBITDA was down 0.5 per cent at €373m due to one-off finance items related to OPAP’s new gaming concession in Cyprus. Net profit was up 3 per cent at €232m.