OPAP sues Greek gov’t over “abrupt and counterproductive” VLT changes

Greek betting firm OPAP is taking the government to court for imposing new restrictions on its video lottery terminal (VLT) business.

On June 12, Greece announced new restrictions on VLT operations, including daily loss limits, smaller jackpots and caps on the time consumers could spend on the machines. OPAP had been scheduled to launch the first of its 16,500 new VLTs by the end of June but put the launch on hold following the government’s surprise announcement.

On Thursday, OPAP announced it had been “forced to pursue multiple appropriate legal actions” due to the government’s “abrupt and counterproductive interventions” into OPAP’s business. OPAP has filed papers with the London Court of International Arbitration and is seeking damages in excess of €1b.

In 2011, Greece issued OPAP a 10-year exclusive contract to operate VLTs, while simultaneously extending OPAP’s monopoly over certain games of chance. But the Greek government sold its one-third stake in OPAP two years later and has since begun treating the company as just under cow to be milked to help the country repay its European Union loans.