OPAP

Stock performance

History

OPAP was established as Greece's state gambling and lottery monopoly, operating football pools and other betting products for decades before being privatized in 2013 as part of Greece's austerity-era privatization program required under its international bailout agreements, with Czech investment group Emma Capital later acquiring a significant stake.

Business model

OPAP operates licensed sports betting, lottery, and gaming products across Greece, holding an exclusive or near-exclusive license structure that gives it a dominant position in the Greek regulated gambling market, a legacy of its origins as the state gambling monopoly.

Market position

OPAP is the dominant gambling and lottery operator in Greece, holding exclusive or near-monopoly rights across most regulated betting and lottery product categories in the country, a position it has retained even after privatization.

Country impact

OPAP is one of the largest companies in Greece and a significant source of Greek government tax revenue through gambling levies, and its 2013 privatization during the depths of the Greek debt crisis was one of the more prominent state-asset sales required under Greece's international bailout terms.