OPAP is the leading gaming company in Greece and one of the most renowned in its industry worldwide. The company, founded in 1958 as the country's national lottery and listed in the Athens Exchange in 2001, is the exclusive licensed operator of all numerical lotteries (7 games), sports betting (4 games) and horse racing. It also operates exclusively, as a controlling shareholder (67%) through a joint venture, the passive lotteries and instant (scratch) games in Greece.
Since the Initial Public Offering (IPO) there was a series of secondary offerings in 2002, 2003 and 2005 when the Hellenic Republic gradually reduced its participation to the Company's share capital. Finally, since Q4 2013 the company, through an international tender, became fully privatized, a fact that provided the momentum needed to ensure its future development and competitiveness on an international level.
Our games are provided through the widest network of points of sale in Greece (more than 4,000), which are dedicated and branded agencies distributing exclusively OPAP's products. These agencies act as commercial representatives and are compensated on a performance commission basis. Additionally to the agencies network, the distribution of Instant and Passive Lotteries is extended further via alternative 3,800 POS (kiosks, street vendors, etc.).
Our core games exclusive license expires in 2030, the Scratch tickets and Passives license in 2026 and the Horse Racing license in 2036. Additionally, we hold the exclusive 10-year license to operate 35,000 video lottery terminals (VLTs) in Greece. The company also operates in Cyprus, while it has expanded its operations via on-line offering.
OPAP is the largest social contributor in Greece operating under the World Lottery Associations (WLA) and responsible gaming standards, while it transforms its business excellence into social contribution through an integrated corporate social responsibility (CSR) strategy.