Opap A Good Bet

OPAP A GOOD BET

23rd September, 2010 at 03:34:24
Source: http://www.azonlinecasinos.com

Investment publication says online gambling legalisation in Greece is imminent

The investment publication Seeking Alpha carried a detailed article on the Greek gambling monopoly OPAP this week, delving into its history and the challenges of the Greek economy, tax and regulatory changes that will see the introduction of a more enlightened approach to online gambling.

The article notes that although OPAP controls 50% of the market in Greece and Cyprus, the remaining fifty% comes from presently illegal internet gambling, a substantial reservoir of business that if legalised could considerably enhance OPAP's profitability.

"It is estimated that illegal, online gaming in Greece generates revenue amounts comparable to OPAP's top line numbers," the article points out. "This means that currently OPAP only controls half of the market share despite having a legal monopoly, however this may soon change in OPAP's favor.

"The Greek government has indicated that it plans to tackle this issue and is set to allow legalised forms of online gambling within Greece so that OPAP can compete with the illegal operators.

"The Greek government has begun discussions regarding how to combat illegal online gaming and whether portions of online gaming should be legalised.

"The next step in these discussions was a resumption of legislative discussions on September 12, 2010 [as of September 16th we are not aware of a public update]. The Finance Ministry estimates that illegal online games revenue is about Euro 4 billion (approximately $5 billion US Dollars)."

Seeking Alpha goes on to suggest that the Greek gaming market will expand to legalise online gambling, and that OPAP will capture most if not all of this market because of its exclusive gaming contract with the Greek government, including a right of first refusal on all gaming in the nation.

OPAP's average 10-year Return on Equity is roughly 100% and the organisation employ's almost no debt. Earnings have increased a total of 30% from 2005 through 2009, while OPAP's price declined 65 percent.

The Greek government owns 34% of OPAP's shares, one of the reasons why OPAP pays out almost all of its earnings (80 percent) to shareholders via dividends. The group earned an average of Euro 572,000,000 over the last 5 years.

Related News Tags: ,



« News index »



LAND CASINO INVESTOR BUYS MOBILE APP COMPANY

20th March, 2017 at 07:18:24
Is Amax planning on expanding its land asset?

OPAP AND CYPRUS GOVT AT LOGGERHEADS

07th March, 2017 at 10:51:20
Gambling giant refusing to open its books for audit without confidentiality agreement in place.

OPAP UPGRADE CORE SERVICES

01st February, 2017 at 22:05:07
With Playtech, BetGenius and Novomatic.

ICE TOTALLY GAMING WILL AGAIN BE A CELEBRATION OF INTERNATIONAL GAMBLING

19th January, 2017 at 08:52:03
67 jurisdictions and sovereign states will be represented on the show next month.

WHAT'S HAPPENED TO CASINO CLUB WORLD?

13th January, 2017 at 08:31:28
Once a consistent contender for top casino awards, things appear to have changed....and not for the better.