Cyprus police investigating after OPAP declines audit

The longstanding relationship between the government of the Republic of Cyprus and betting operator OPAP is rapidly coming apart at the seams.

On Monday, the Cyprus Mail reported that Cypriot attorney-general Costas Clerides had ordered a police investigation into OPAP after the Greek lottery and betting operator declined to hand over its financial records for a government audit unless the state treasurer agreed to sign a confidentiality agreement.

The House finance committee was told that the treasurer sought the advice of the attorney-general’s office, which advised her not to sign the confidentiality agreement. OPAP then refused to turn over their books, leaving the attorney-general no option but to launch its investigation.

Late last year, the Cypriot government introduced legislation aimed at revising its agreement with OPAP, which has been operating in Cyprus since 1969 under an bilateral agreement with Greece. But following the Greek government’s 2013 privatization of OPAP, Cyprus decided its arrangement with OPAP needed updating, particularly in terms of the government’s share of OPAP’s Cyprus revenue.