Online gambling tech giant Playtech has signed a deal with OPAP, one of the leading Greek gaming and lottery operators, for the supply of self-service betting terminals.
Under the three-year agreement, Playtech BGT Sports will supply software and services for a combination of full-sized betting terminals and compact terminals, with the initial roll-out of machines in 2017.
The agreement also includes the introduction of an over-the-counter (OTC) sports betting solution in 2018.
Significance of the agreement
Playtech unveiled it will provide a fully-managed service to OPAP including trading and more than 25,000 in-play markets. Financial details of the deal remained undisclosed.
“The agreement with OPAP is a milestone for Playtech BGT Sports and we are proud to be supplying such an important lottery supplier with our solutions. There are multiple opportunities to further develop our relationship as OPAP looks to enhance its digital retail offering and we believe today’s agreement marks the start of a long and successful relationship,” said Armin Sageder, Chief Executive Officer of Playtech BGT Sports.
“We are pleased to be cooperating with Playtech and we are looking forward to leveraging their in-depth expertise, as part of this new venture. The introduction of SSBT is aligned with our strategic priority to build a world-class portfolio of products and services for OPAP. Our cooperation with Playtech will contribute to the considerable improvement of our retail sports-betting offering and the enhancement of our customers’ experience,” said Damian Cope, OPAP Chief Executive Officer.
Shares in Playtech rose 3 percent at 854.00 pence Wednesday afternoon.
Teddy Sagi, who holds a 40.4 percent share in software development company Playtech, is in negotiations to acquire the largest betting company in Europe, Greece’s OPAP.
The Greek government has an intention to sell its 34 percent stake in the company, in order to alleviate economic crisis in the country.
The merger between Playtech and OPAP is also on the table, but considering the need of the Greek government for instant funds, the acquisition is a more likely option.