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Opap Given 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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Gambling News :

Yggdrasil Gaming Expanding - The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.

FanDuel and DraftKings Settle With NY Attorney General - Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.

Stan james Now Live With EPOS - The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.

Singapore Online Gambling Ban Begins - Singapore media reports indicated Tuesday that restricted online gambling services offered by the Singapore Pools have started online operations, whilst Singapore Turf Club will commence online betting activity on November 15.

Chinese police action against Crown Resorts Widens - In addition to the 18 Crown employees still held after their arrest last week, it now appears that the police questioned 87 Crown punters and junket organizers, detaining 10 of the latter.

Pennsylvania Online Gambling Updates - Pro-online gambling companies, including the Golden Nugget in New Jersey and Pokerstars, were quick to refute Schippers views based on their operational experience.

WSOPE In Czech Republic - World Series of Poker Europe 2017 has moved to King’s Casino Rozvadov (KCR) in the Czech Republic following a multi-year deal that will see KCR host numerous WSOP-branded events over the next several years.

Medialivecasino in Deal With Microgame - #Medialivecasino live dealer games have already gone live with Microgame joining content from other well-known providers NetEnt and Evolution Gaming.

BtoBet Partners with AfroBet - Following the launch in Kenya, Afrobet said it has high hopes for further expansion into East Africa, Tanzania, Uganda and Congo.

Pissed off Tabcorp shareholders - A significant number of Tabcorp shareholders, led by The Australian Shareholders Association, reportedly objected to proposed hikes in executive pay packages and were unhappy with the company plans for a merger with rival gambling group Tatts.

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