VLTs are back in the game

Kathimerini English - - Focus -

OPAP will re­vive plans to launch a video lot­tery ter­mi­nals (VLTs) busi­ness, Europe’s third largest betting firm said yes­ter­day, af­ter Greece’s gam­ing com­mis­sion ap­proved new rules. OPAP had planned to launch video lot­tery ma­chines last year but halted the project af­ter Greece in­tro­duced tougher betting rules. The com­pany, which has paid some 500 mil­lion euros for the li­censes, has said it was ready to launch the busi­ness once reg­u­la­tions govern­ing it were amended. “As a re­sult of the new rules... the board de­cided that all con­di­tions are ap­pro­pri­ate, al­low­ing OPAP to restart its plan­ning for the op­er­a­tion of VLTs in Greece,” OPAP said in a bourse fil­ing. OPAP has taken a case against the Greek state to the Lon­don Court of In­ter­na­tional Ar­bi­tra­tion, claim­ing dam­ages of more than 1 bil­lion euros caused by its freez­ing of the plan. The com­pany will ad­just the size of its le­gal claims against the state as part of the le­gal pro­ceed­ings, it said.

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