OPAP

Greek government plans to regulate online gaming is "a step in the right direction," OPAP's chief executive officer said on Thursday.

OPAP, Europe's fifth largest firm in terms of revenues, holds the monopoly in internet gambling in Greece but hundreds of websites are also offering online gaming without a license.

While bank stocks tumbled 3 percent on Monday on the Greek stock market, several non-banking blue chips and mid-caps enjoyed a rise at the start of the week. Consequently, although the benchmark's early losses were contained, the growth data didn't really make any impact on the day's trading.

Greek stocks retreated on the Athens Stock Exchange (ATHEX) on Wednesday, while turnover was particularly low following a technical glitch.

ATHEX trading was temporarily suspended from 12.45 to 1.40 p.m. due to a general technical problem that affected the price data feed subsystem.

The ATHEX general index ended at 758.04 points, down 0.43 percent from Tuesday's 761.29 points.

The Athens bourse spent almost the entire session on Wednesday showing benchmark and blue-chip gains, only for sellers to reverse the trend in the closing auctions, wiping out the advances. Nevertheless, growing stocks outnumbered decliners.

The illegal turnover of offline gambling is in the process of turning legal. Last year alone gaming giant OPAP's turnover from games of chance on video lotto terminals (VLTs) came to 1 billion euros. This turnover has not come about through new players discovering slot machines but rather from the legalization of the existing illegal market.

After the four-day weekend the Greek bourse reopened on Tuesday in pretty much the same fashion as it ended last week, with early losses contained in the closing auctions - propped up largely by bank stocks - while turnover dropped to holiday season levels at what was the start of a three-day trading week.

The benchmark of the Greek stock market suffered a considerable slide of more than 2 percent on Friday and the banks index gave up the last of its gains registered since the start of the year, mainly on international concerns regarding the trade war US President Donald Trump is attempting to wage against Europe.

A stock rally in the latter half of Thursday's session in Athens saw the benchmark swing back to gains, after a continuation of Wednesday's losses in the morning. Banks enjoyed robust growth, leading trading volume to its highest level this week.

Listed betting company OPAP announced on Thursday that 1,000 self-service betting terminals (SSBTs) are now operational, and its new digital platform is on track for launch in the first quarter of 2018.

OPAP, Europe's fifth biggest gaming firm, said on Wednesday it is keeping to plans to have a total of 10,000 video lottery machines (VLTs) rolled out by the end of the year.

OPAP launched the new product, which is expected to be its main growth driver, earlier this year.