ECONOMY

OPAP to take a bet on Turkey

Shares in Europe’s biggest betting group OPAP jumped 2.8 percent on the Athens bourse yesterday, outperforming the broader market, after announcing it will submit a binding bid today for a license to operate Turkish national lottery Milli Piyango. Shares in OPAP, which has a market capitalization of 6.7 billion euros, ended at 21.10 euros. The Athens bourse’s benchmark general index advanced 1.01 percent to 1,901 points. «We are ready… [Our bid] will be submitted early tomorrow [Wednesday],» OPAP Chief Executive Christos Hadjiemmanuil told Reuters. «We have every capability to win the tender at the right price.» OPAP met preliminary tender criteria for a 10-year license to operate Milli Piyango in a joint venture with Turkish business group Dogus, which owns Garanti Bank, FIBA and contractor Alarko. The deadline for binding bids expires today. Analysts see OPAP’s expansion in Turkey as a catalyst for the future growth of the company.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.