Hellenic Gaming Commission fines Greek gambling group

[The Buzz]

The Hellenic Gaming Commission (HGC) has imposed a substantial €24.5 million (£21.3 million/$26.0 million) fine on the Greek gambling conglomerate OPAP. This penalty was levied due to OPAP's violation of specific aspects of Greek legislation, with the HGC asserting that the company had exploited its dominant position within the Greek market.

The allegations originated from the Hellenic Cooperative of Professional Lotteries' Agents (SEPPP) and undisclosed agents who lodged complaints against OPAP. The complainants contended that OPAP's 2017 Exclusivity Agency Agreement, including its non-compete clauses, and its activities spanning from 2017 to 2021, ran afoul of certain provisions of Greek law.

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, is the exclusive licensed operator of all numerical lotteries, sports betting and horse racing.

From Greek City Times:

In a statement, OPAP said the decision to impose the fine was inaccurate. It said this was because the decision was based on its core operations in the gaming market. Instead, OPAP said it was based on services provided by its agencies.

“The company respects the institutional role of independent administrative authorities, including the Hellenic Competition Commission,” read the statement. “Yet, it strongly disagrees with the content of the decision, which it considers fully baseless.

“[HGC’s] decision, which was not unanimous, does not relate with the company’s core business in the gaming market, but has to do with bill payment services and mobile top-up services offered by its agencies.”

OPAP added that the HGC did not appropriately consider data from the Bank of Greece, which supervises the payments sector in the country.

Read more here: https://greekcitytimes.com/2023/10/0...ng-commission/

[ocreditor]

That's one hell of a fine

[theGman]

Thats a huge fine - has the UKGC levied one this large. That said, it is Greece and anything can happen between now and the payment of it. OPAP were for years the monopoly and will definitely push some levers to reduce or make the fine go away. I cant see them taking this lying down like Operators in the UK are obliged to.