Supplier News
Greece – OPAP expects to generate €1bn a year from VLT roll-out
By Phil - 25 February 2015
Greek lottery operator OPAP is predicting profits of between €800m and €1bn per year from its Video Lottery Terminals (VLTs) once they have been rolled out and are in full operation.
The company is pushing forward with its plan to develop a network of gaming hall under the brand Play in order to host the new VLTs.
OPAP plans to open around 660 Play gaming halls with around 25 machines in each, bringing the total of VLTs to 16,500. With permission for 35,000 machines, it is expected that the remaining 18,500 VLTs would be operated by subcontractors. The rollout will create around employ over 10,000 jobs.
Players will be able to bet between 0.10 and €2 per spin with maximum jackpots of €1,000. Players will be restricted to 12 hours per week.
Over 4,000 venues have offered to host the Play halls. OPAP has told potential investors that each Play venue could generate revenues of between €580,000 and €720,000 a year. OPAP, will get 75 per cent of the revenues with 25 per cent being retained by the venue. At least 500 OPAP betting agents have applied to manage one of the new style halls
