OPAP Forecasts Big Bucks from VLTs

OPAP, Greece’s largest betting company, projects annual net revenues from €800 million to €1 billion (US$895 billion to $1.1 trillion) from video lottery terminals when they open around the country.

Revenues would amount to .05 percent of GDP

The Greek Organization of Football Prognostics S.A. of Athens, familiarly known as OPAP, predicts that thousands of VLTs soon to open around the country could generate between €800 million and €1 billion per year.

According to the Balkans news site ekathimerini.com, OPAP is the sole operator and manager of lottery and sports betting games in Greece and Europe’s biggest betting firm.

The projected revenues from the “Play” mini-casinos, if realized, would comes to around 0.5 percent of the country’s gross domestic product. Officials at the public company say that about 4,000 locations have already been put confirmed to house the new gaming halls, and hundreds of applications have come in for the management of Play halls through franchise deals.

OPAP intends to operate some 660 Play gaming halls with around 25 VLTs each, for a total of approximately 16,500 slot machines. OPAP has a license for a total of 35,000 VLTs. Subcontractors to be named later are expected to manage the remaining 18,500.