Greece – Synot signs OPAP agreementBy Lewis - 11 May 2015
Synot is to supply 2,000 VLTs to the Greek lottery. An agreement for the supply of VLTs to OPAP, a company which has a gaming monopoly in Greece, was signed this week.
“We consider this as an important step forward. Synot has succeeded as one of only two European suppliers in a tender that involved VLT suppliers from all over the world. I firmly believe that we succeeded because of our 20 years experience in the international lottery industry,” stated Ivo Valenta, Chairman of the Board of Directors WCV World Capital Ventures Cyprus Limited, adding: “I believe that we have opened the door to the second-round as OPAP is about to start another tender for 18,500 VLTs.”
Greek lawmakers prohibited gaming nine years ago. Since that time there had been approximately 150,000 illegal gaming devices operated in Greece in hundreds of illegal venues. This illegality prompted the country to redefine and legislate its gaming market with clear, strict rules. The transparent nature of VLT gaming allows for the full control of financial transaction, while a player registration system prevents ‘at risk’ groups from playing on the devices.
Synot’s current footprint spreads to 13 countries with further expansion planned in the near future. Synot operates mainly in Europe, where it is about to enter the online market, but its interests also extend to North Africa and Asia. In Greece, as in other markets, Synot Group plans investments into adjacent sectors such as IT technologies, telecommunication services, sports and tourism-related investments. Synot Group as an international company employs around 3,000 employees and has turnover around 12 billion CZK per annum.