BUSINESS

Greece's OPAP to revive plans for video lotto after new gaming rules

TAGS: Business

OPAP will revive plans to launch a video lottery terminals (VLTs) business, Europe's third largest betting firm said on Wednesday, after Greece's gaming commission approved new rules.

OPAP had planned to launch video lottery machines last year but halted the project after Greece introduced tougher betting rules.

The company, which has paid some 500 million euros for the licenses, has said it was ready to launch the business once regulations governing it were amended.

"As a result of the new rules...the board decided that all conditions are appropriate, allowing OPAP to restart its planning for the operation of VLTs in Greece," OPAP said in a bourse filing.

OPAP has taken a case against the Greek state to the London Court of International Arbitration, claiming damages of more than 1 billion euros caused by its freezing of the plan.

The company will adjust the size of its legal claims against the state as part of the legal proceedings, it said. [Reuters]

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