OPAP SA has retained its position as the managing firm of the Greek National Lottery, as the Greek state confirms it will continue its long-standing partnership with the Athens-listed operator.
Under the renewed agreement, OPAP – via its subsidiary Hellenic Lotteries – will remain the managing steward and lead technology supplier of the Greek State Lotteries portfolio. The new 12-year concession covers the Ethnikó (National Lottery), Laiko, Protochroniatiko (New Year’s draw), and all instant-win lottery games.
Negotiations on behalf of the government were led by the Board of Directors of GrowthFund, the sovereign holding entity responsible for overseeing investments and ensuring that lottery proceeds continue to fund national good-cause programmes.
Financial terms include a one-off €80m payment, alongside an annual contribution equal to 30% of Gross Gaming Revenue (GGR) generated by State Lotteries. A minimum annual payment of €20m to the Greek state is guaranteed.
Jan Karas, Chairman and CEO of OPAP, stated: “We are pleased with the successful outcome of the tender. This development allows us to continue to provide, for the next 12 years, games that have been particularly loved by the Greek public, through our broad network.”
OPAP readies for Allwyn mega-merger
The renewal arrives at a pivotal moment for OPAP, which is currently undertaking a corporate transformation following its agreement to merge with principal investor Allwyn International.
Agreed in October, the deal will see Allwyn assume 79% ownership of the enlarged group, with OPAP retaining the remaining equity. The combined entity will create a €16bn lottery, entertainment and gambling giant, bringing together major European assets including Casinos Austria, Lotto Italia and the Czech operator SAZKA.
The merger will be maintained as a newly structured enterprise on the Athens Stock Exchange, while dealmakers are understood to be exploring a future dual listing, potentially on the London Stock Exchange (LSE) or New York Stock Exchange (NYSE), to support the group’s long-term growth ambitions.
CEO Kara concluded: “This gives us the push to focus even more on the games’ evolution and revamp, always based on customers’ needs and expectations, as well as by utilising innovative approaches in our propositions. We are moving dynamically into a new era for lotteries.”