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INTERNET VERY MUCH A PART OF GREEK GAMBLING MONOPOLY'S PLANS

Written On  5/9/11 By Recentpoker.com staff writer  Lenny Wasman :

OPAP has ambitions both within and outside its homeland, especially over the internet, chief exec reveals
 
In an interview with the Bloomberg news service this week Ioannis Spanoudakis, chief executive of the Greek gambling monopoly OPAP, said his company has ambitious expansion plans that include the internet.
 
However, the company also has to find a balance between cutting payroll costs whilst remaining competitive, he cautioned.
 
“We are not looking just to become a more cost-effective, productive company, but we are looking to be involved in more business opportunities in Greece, on the internet and outside of Greece,” he told the news agency.
 
The payroll reduction plan apparently does not involve extensive job cutting, although Spanoudakis could not reveal the detail until he had final board approval. However, the arrangements had been negotiated and agreed to by the relevant unions, he said.
 
Greece’s government is currently working on legislation to regulate the gambling market.
 
Licenses for video-lottery terminals, internet betting and an instant-lottery scratch game are “tremendous opportunities” for OPAP, Spandoukis said, adding: “We are going to fight for them."
 
Bloomberg notes that last month the Greek government announced plans to sell its 34 percent stake in OPAP in 2012, call a tender for the national lottery and sell its holdings in land casinos as part of a state- asset sale to raise Euros 50 billion through 2015 to help pay down the country’s debt.
 
The national lottery is an “attractive opportunity,” while the company doesn’t plan to bid for the land casino assets, Spanoudakis said. There haven’t been any talks on government plans to extend the company’s monopoly on sports betting, currently until 2020, he revealed.
 
Greece’s illegal gambling market is worth over Euros 4 billion a year, the Greek finance ministry claimed earlier this year.
 
Spanoudakis predicted that OPAP earnings will be weaker in 2011 due to the recessive nature of the economy. Net profit in the second half of 2010 reached Euros 323.9 million off sales of Euros 2.4 billion.



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Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

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PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

New MPN Poker Rooms Tower Torneos - Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<

NY Rangers vs. Devils on 12/21 - When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.

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