The Freeland File
Global Market Data
Tales from the Trail
Lucy P. Marcus
David Cay Johnston
The Great Debate
Jack & Suzy Welch
Macro & Markets
Lipper Awards 2012
Personal Finance Video
Exclusive: Brazil to rally BRICS against rich countries
28 Mar 2012
Pope meets Cuba's Fidel Castro, slams U.S. embargo
28 Mar 2012
Authorities charge JetBlue pilot for midair meltdown
Special Report: Gaddafi's secret missionaries
Man hugs doctors after seeing face transplant in mirror
27 Mar 2012
Poll: Americans angry with Obama over gas prices
Cheney recovering after heart transplant: spokeswoman
Black friend defends shooter of Florida teen
Congressman dons a hoodie, gets kicked off House floor
Wed, Mar 28 2012
Elephant runs away from circus
Horror hits the runway in Japan
Fri, Mar 23 2012
Greece's OPAP shortlists three firms for online betting
Analysis & Opinion
Bloomberg’s weird Buffett spoiler
Thu Mar 29, 2012 10:18am EDT
ATHENS (Reuters) - OPAP (OPAr.AT), Europe's biggest betting company, said on Thursday it had shortlisted three IT providers to help it expand into online betting, a business it sees as a key growth driver.
OPAP is in discussions with three gaming software companies, GTech - a unit of Italian lottery Lottomatica (LTO.MI) - Playtech (PTEC.L) and Intralot (INLr.AT), Chief Executive Yannis Spanoudakis said.
"On Internet (betting), we are in the final phase to pick a vendor among three candidates," Spanoudakis told reporters. He said the company aimed to make a decision in the third quarter.
Plans to expand into online betting, a thriving grey market that Greece wants to regulate, along with video lotto terminals (VLTs) are expected to boost the value of OPAP which posted a 21 percent drop in quarterly net profit last week because of a deep recession.
Greece holds a 34 percent stake in OPAP, the country's second biggest listed firm by market value, and wants to sell most of it later this year to boost its much-delayed privatization plan and help cut its debt.
Last year, OPAP paid hundreds of millions of euros to the state to acquire an exclusive license to operate 35,000 VLTs in the country. It initially planned to start rolling out the machines by the start of the second quarter this year but regulatory delays pushed back its plans.
Spanoudakis now said that the first VLTs along with internet gambling could start by the third quarter of the year and would not help profitability much before 2013.
Shares in OPAP have gained 7 percent so far this year, underperforming a 10.6 percent rise of the Athens Stock Exchange.
(Reporting by Angeliki Koutantou; Editing by Ingrid Melander)
Related Quotes and News
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Be the first to comment on reuters.com.
Add yours using the box above.
Back to top
New York Legal
Support & Contact
Connect with Reuters
Our Flagship financial information platform incorporating Reuters Insider
An ultra-low latency infrastructure for electronic trading and data distribution
A connected approach to governance, risk and compliance
Our next generation legal research platform
Our global tax workstation
About Thomson Reuters
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.