Greek gaming operator OPAP is one of the top gaming operators in the country who offers a variety of online betting services.
The company received a setback earlier this month when Greek Council of State decided to revoke the operator’s sports betting license. The suspension of the sports betting license was done in July but the information only came to light last week.
The Hellenic Gaming Commission’s (EEEP) was first approached by an Austrian betting operator called Goalbet who felt that OPAP received special treatment during its licensing application and approval process.
Goalbet along with 23 other operators had to follow a rigorous licensing process to get into Greece nearly a decade ago. These 24 operators were initially granted licenses in 2011 but the licenses were temporary and not permanent. During this period of time OPAP was owned by the state and had a monopoly over the market.
Just a year into the temporary license, all 24 operators had their licenses revoked whereas OPAP received a license extension to continue its monopoly over the market. The license extension was granted by EEEP. Goalbet filed a case alleging that OPAP received special treatment and was not subject to the same set of rules that the other 24 operators had to undergo.
The Supreme Administrative Court in Greece ruled in favor of Goalbet and suspended the sports betting licenses for OPAP’s Pame Stoixima brand. The bigger concern for OPAP is the fact that the 24 operators could push for financial compensation on the basis that OPAP has been running online gaming services based on a license that was obtained via a preferential process.
OPAP has decided to fight back as the operator is eager to get back into the sports betting market even though sports betting revenues contribute less than 1 percent of the Group’s total revenue. The company will file an appeal to see if it can over turn’s the decision to suspend Pame Stoixima sports betting license as it wants to make a point.
OPAP says that when it was a state run operation, the state told investors that OPAP had a valid sports betting license to offer fixed odds betting till 2020. Once the state sold its stake in OPAP, it revoked its license and adopted a difference stance. OPAP will take the legal route at all costs in order get a fair deal!
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