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OPAP Plans to Fight Back

A recent ruling in Greece has the country’s state run online casino gambling monopoly ready to fight back if the Greek government opens up the internet gambling market to include foreign competition. OPAP as a complete monopoly on the Greek gambling market, and the Greek government has systematically stalled and stopped attempts by foreign online casinos to enter the Greek market. The European Commission began to threaten Greece with legal action from the European Court of Justice (ECJ), and although the Greek Economy Minister is making steps toward coming into alignment with EU trade policies, OPAP asserts that the current monopoly would stand in the ECJ.

The CEO of OPAP, Christos Hadjiemmanouil, reacted quite negatively to recent Greek media reports that Costas Zacharopoulos has been assigned to monitor the nation’s online casino gambling industry. Criticism of OPAP has been substantial over the past several months and the warning letter from the European Commissioner Charlie McCreevy negatively impacted OPAP’s share value. OPAP operates the only legal Greek online casinos, betting services, and internet poker sites.

And as for the rumors that OPAP will face competition in the near future within the Greek online casino gambling market, Hadjiemmanouil commented that OPAP“...will defend its rights in every appropriate way.” Hadjiemmanouil asserts that the Commission’s pressure to open the nation’s online gambling market is not in line with efforts to protect internet gamblers. He did not specifically comment on the fact that a licensed and regulated casino gambling industry is just as safe as a state-run monopoly. As the situation progresses in Greece in the direction of a more open gambling market, OPAP may look into acquiring companies with a share of the European gambling market.