OPAP’s Contract with Intralot Extended by 2 More Years
National lottery operator in Greece OPAP SA extended its contract with Intralot SPA, having exercised a 2-year extension option available in the agreement with the technology services provider. As per the contract extension, Intralot will continue to serve as OPAP’s lead systems provider for numerical lottery products and services.
Extension Option Exercised
The technology and services supplier contract between OPAP SA and Intralot was set to expire in August 2021, but the Greek national lottery operator issued an update to its stakeholders, informing them that the agreement would be active throughout July 2023.
The extension of the running contract would allow OPAP to continue to take advantage of Intralot’s lottery solutions based on the technology company’s novel core platform LotosX which, ever since its initial launch in 2019, has been an enormous success.
OPAP would also continue to benefit from several other components and high quality services coming along Intralot’s lottery solution, to enable the lottery operator to keep improving gaming experience for lottery players and boost engagement with the player community in the country of operations.
Intralot’s next generation future-proof platform, designed for scalable ecosystems and growth in demand from the market, would fully support OPAP’s modernization efforts and digital transformation.
OPAP Successfully Navigated the Storm
The lottery and sports betting monopoly headquartered in the capital of Greece reported a stable third quarter for the business, mainly due to the cautious approach towards gradual resumption of operations it adopted.
OPAP announced a modest decline in revenues year-on-year after most of its sports and video lottery terminal (VLT) units experienced strong comeback, as both verticals posted double-digit growth for the quarter compared to the prior year.
In June, OPAP appointed its chief commercial officer Jan Karas as interim chief executive officer, after former CEO Damien Cope stepped down having completed his 4-year contract. Cope assumed a role as an advisor to the management board at OPAP, as well as a facilitator with the company’s majority shareholder Sazka Group.
Between June and December, Jan Karas exceeded expectations in the role of interim CEO, after his actions contributed to several business initiatives, as well as the successful navigation of the business during a period of restrictive measures.
In December, OPAP decided to appoint Jan Karas as permanent chief executive officer for the business, assuming the role full time effective January 1, 2021.
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