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Opap Given Exclusive Betting Rights to 2030
Wednesday, October 3, 2012 : EU APPROVES OPAP EXCLUSIVE BETTING RIGHTS TO 2030
Greek gambling monopoly will pay an additional levy for the privilege
Greek gambling monopoly OPAP will pay an adequate fee for the privilege of retaining exclusive betting rights to the year 2030 in addition to an exclusive VLT licence following approval from the European Union Competition Commission reports Reuters.
The European Union reportedly granted OPAP regulatory approval saying the measures comply with EU state aid rules, a move that will undoubtedly draw fire from organisations such as the Remote Gaming Association who said this week "Under pressure from the European Commission, the Greek government has announced plans to rectify the preferential tax treatment that OPAP’s online gaming business would have enjoyed, but there are other major issues that have still to be resolved, not least the fact that the intention is still to let OPAP have a monopoly in the online sports betting market".
Analyst Paris Mantzavras at Pantelakis Securities said the decision would result in “no Internet betting licenses being awarded to third parties before 2020,” along with the added concern with regard to pending legal challenges at the European Union's highest court from Stanleybet International Ltd., William Hill Plc and Sportingbet Plc.
Joaquin Almunia the EU Competition Commissioner said in a statement: "Greece has cooperated fully with the 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. This allows for a timely privatisation of the gambling operator."
OPAP will be subject to an additional levy of up to 5 percent on gross revenues generated by the 35 000 video lottery terminals, said the Commission.
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2017 Aussie Millions Event 1 -
The Melbourne-based player bested a field of 1,565 entries - 245 up on last year's equivalent - to end up in the heads up with New Zealnad's Qiang Fu, but not before both he and Qiang had narrowly escaped at the four-handed stage when they were the low stacks.
Swiss Reject idea to Block Gambling Websites -
The Legal Affairs Committee of the Swiss National Council has nixed new regulations which would have blocked access to online gambling sites in Switzerland, according to local media reports Tuesday.
Growth Ahead For Online Gambling -
Transparency Market Research has issued a teaser on its latest international online gambling and betting survey, forecasting that the industry will grow at a Compound Annual Growth Rate (CAGR) of 10.8 percent by 2024.
New Qubit software For SkyBetting -
#qubit Sky Betting & Gaming aims to top its record 50 percent revenue growth last year with new player differentiation software and expertise provided by the Qubit company.
Slotfather II Slot Launching -
#betsoft The first is a sequel to the popular gangster-themed online slot Slotfather, unsurprisingly titled Slotfather II, whilst the other is a new 243 ways-to-win game titled Fa Fa Twins..
Massachusetts Online Lottery Bill -
Flanagan's confidence was clearly boosted by the bill's success in the Senate last year, although it was not developed by the House and ran out of time.
Italy Doing Well With Online Sports betting -
The latest numbers from the Italian regulator show that online sports betting remains king when it comes to internet gambling in the market, generating Euro 391.8 million in turnover in December 2016.
Michigan To Reintroduce Online Gambling Bill -
#Michigan state Sen. Mike Kowell's staff have confirmed that the senator plans to reintroduce his online gambling legalization bill, which failed to make it through the last legislative season.
MGM Buys DC office building For lobbying team -
#MGM Resorts International has bought a new Washington, D.C., office building for its in-house lobbying team, led by former chief counsel to the now retired Nevada Sen. Harry Reid, Ayesha Khanna.
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