OPAP will launch VLTs in Greece

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The company is set to launch video lottery terminals by the end of the first quarter 2017.

Greece.- OPAP, Europe’s fourth biggest betting firm confirmed that they will launch video lottery terminals by March 2017. The announcement was made in a presentation released on Wednesday by the company.

After Greece set a tax that severely affected the OPAP’s revenue, in order to boost state coffers during a hard debt crisis as part of international bailouts, the company’s profitability was going down fast and deep. Back in May, Kamil Ziegler, OPAP’s Chairman and CEO outlined the “severe impact” of the new tax rate. He noted that OPAP’s results were still depressed by “persisting pressure on disposable income and private consumption” as the Greek economy continues to flounder under the government’s austerity measures.

OPAP announced that they will unfreeze its plans to launch VLTs in Greece, and multiple analysts specified that this could be a breaking point for the company’s future growth.