OPAP

Greece proposed on Friday that betting company OPAP should operate a total of 25,000 video lottery machines, down from the 35,000 machines the country's current legislation stipulates.

The Finance Ministry said on Friday it had tabled a bill which reduces the number of machines, aiming at a smaller exposure to gambling and a more effective supervision by the authorities.

A man who robbed a betting agency in Thessaloniki at gunpoint late Thursday evening was left with far less than what he bargained for as he dropped much of his somewhat meager takings in the street as he made his getaway.

OPAP, Europe's fourth-biggest betting firm, reported an 8.7 percent drop in first-quarter net profit on Monday, hurt by costs for the rollout of a new video lottery business.

OPAP said net profit came in at 39 million euros in the first three months of the year, down from 42.8 million euros in the same period a year ago.

Greece's biggest betting company OPAP has selected Deutsche Telekom-controlled Greek telecoms group OTE to upgrade telecoms infrastructure at its outlets across the country, the two companies said on Tuesday.

The new systems will help OPAP to implement its 2020 development plan, which includes the launch of new products and services, OPAP said.

Athens-listed gaming systems provider and sports betting firm Intralot may consider listing on another international stock market as business in its domestic Greek market shrinks, the chairman said on Thursday.

Intralot's Greek operations were hit when it lost a contract with Greece's biggest betting firm OPAP that had been a valuable source of revenue for two decades.

The utilization of state properties is supposed to fetch revenues of 2.15 billion euros this year and 2.07 billion euros next year according to the midterm fiscal plan being debated in Parliament. After that, revenues are slashed drastically to about 100 million euros per annum.

Greece's OPAP, Europe's fourth-biggest betting firm, will conclude the roll-out of a new business of video lottery terminals (VLTs) next year, it said on Thursday.

Greece's OPAP, Europe's fourth-biggest betting firm, on Wednesday posted a 19.2 percent drop in fourth-quarter core profit, hurt by an austerity tax.

OPAP, which was fully privatized in 2013, currently offers sports betting and lotteries through a network of about 5,750 outlets in Greece and Cyprus.

A 39-year-old Paralympic athlete was set to face an investigating magistrate on Monday after fatally shooting a 47-year-old man who worked for him at an OPAP betting store managed by the accused in Moschato, southern Athens, on Friday.

The athlete claimed he was acting in self-defense, saying the victim threatened him and his family.

Demand for OPAP bonds was more than twice the amount offered at last week's public offering, with the gaming company allocating 200,000 common bearer bonds of 1,000 euros each for a total of 200 million euros.

The total demand across the yield range from investors that participated in the offer was 421 million euros.

The final yield has been set at 3.50 percent.