London-headquartered supplier of SBG video lottery products and other solutions for the international gambling industry Inspired Gaming today announced that it will soon start rolling out video lottery terminals with Greek gambling operator OPAP S.A.
The announcement that OPAP would eventually commence rolling out VLT products in its domestic market comes shortly after the Hellenic Gaming Commission adopted new regulations regarding the provision of this type of lottery services to Greek customers. The lottery operator has said that all the necessary conditions for the operation of VLTs are now in place and that it can renew plans for the establishment of a VLT division as part of its business.
OPAP has been granted a 10-year exclusive license for the operation of VLT cabinets around Greece and Inspired Gaming will be one of the four suppliers of this type of lottery devices to be working with the operator. The London-based provider will roll out a total of 3,960 VLTs across OPAP’s retail network early in 2017.
Commenting on the latest announcement, Inspired Gaming CEO Luke Alvarez said that they are delighted to be able to enter Greece’s VLT market, which is now fully regulated, with OPAP. Mr. Alvarez described the roll-out of VLT cabinets in the local market as an exciting moment for the Greek gambling industry and for his company, as well.
It was back in 2011 when OPAP won the exclusive license for the operation of VLTs in Greece. However, the company has not been able to launch this type of gaming cabinets across its retail network since then. The latest delay came after the Hellenic Gaming Commission introduced new gambling regulations in June last year. The regulations in question included fixed daily loss limits, lower jackpot levels, and limitations regarding play time.
The new rules were introduced only days before OPAP’s planned VLT launch. Back then, the gambling operator said that it needed more time to make sure that its operations would be fully compliant with the new rules. Understandably, OPAP was not particularly happy with the newly adopted regulations as the commission had not discussed the changes it had implemented with the company.
This summer, the gambling regulator adopted a new set of rules that, according to OPAP, provided “a comprehensive institutional framework” that aimed at protecting customers from the ills often related to excessive gambling and at the same time securing that OPAP’s VLT business would be economically viable. The major gambling operator believes that the provision of VLT lottery options will bring revenue of up to €1 billion per annum.
