Bookmakers

Greek betting firm OPAP reported an 18 percent rise in its first-quarter net profit on Tuesday, helped by the launch of new games and cost controls.

By Vangelis Mandravelis

Greeks placed 5.9 billion euros' worth of debts on games of chance in 2014, showing a rise of 9 percent compared to the year before, data published by the Gaming Commission (EEEP) show.

Czech KKCG Group said on Wednesday it has raised its share in Greek lottery company OPAP.

KKCG said it acquired an additional 22.35 percent stake in investment fund Emma Delta from ICT Holding, substantially controlled by Russian entrepreneur Alexander Nesis.

Once the transaction is completed KKCG will hold 44.7 percent in Emma Delta.

Greece's OPAP, Europe's second biggest gambling firm based on market value, on Monday reported an annual 41 percent rise in 2014 net profit, boosted by the launch of new games and cost savings.

A six-year recession at home had hurt OPAP in previous years but cost containment by its new management which took over after the firm was fully privatised has helped.

By Vangelis Mandravelis

One word was enough to again change the purpose of the planned State Property Fund, which the government sees replacing TAIPED. A change in the draft law provides for only part of the fund?s revenues heading toward the support of social security in Greece.

William Hill, one of the UK's biggest bookmakers with more than 15 000 employees worldwide, is setting up a Java developers team in Bulgaria's capital Sofia.

The team will work in cooperation with other centers across the world, adding new products to the company's portfolio and contributing to its growth, according to money.bg.

OPAP gaming company has granted a 15-day extension to the deadline for the expression of interest by its agents as well as other professionals for the operation of gaming halls, or betting shops that will house VideoLottery Terminals (VLTs).

By Vangelis Mandravelis

OPAP gaming company is moving apace with the creation of its ?Play? network of gaming halls, which will focus its VideoLottery Terminals (VLTs), an electronic version of the slot machine.

Greece’s OPAP, Europe’s second-biggest gambling firm based on market value, posted on Tuesday a 26 percent rise in third quarter profit, boosted by new games and cost cuts.

Net profit rose to 55.9 million euros from 44.4 million euros in the same period last year. The figure was at the high end of analysts’ forecast in a recent Reuters poll.

A Greek court ruled on Tuesday that OPAP’s betting monopoly in the country is legal, court officials said, rejecting a longstanding challenge by rival firms and securing the company’s market dominance in Greece.

OPAP, one of Europe’s biggest betting firms, has the exclusive right to offer lotteries in debt-laden Greece until 2030 and sports betting until 2020.