November 15, 2017 / 2:46 PM / a year ago

OPAP says sticks to video lottery machines roll out plan by year-end

ATHENS, Nov 15 (Reuters) - Greece-based OPAP, Europe’s fifth biggest gaming firm, said on Wednesday it maintained its plans to have a total of 10,000 video lottery machines rolled out by the end of the year.

OPAP launched the new product, which is expected to be its main growth driver, earlier this year.

“The plan is still to have around 10,000 machines in the field by year-end and we feel that this figure should be feasible given the current run rate” Chief Executive Officer Damian Cope told an analysts conference call.

Greece parliament passed a law on Tuesday to reduce the number of gambling machines, known as VLTs, allowed in Greece to 25,000 from 35,000 by the end of 2019 to reduce public exposure to gambling and ensure more effective supervision by the authorities.

OPAP was confident it would meet that timetable and expected to have about 20,000-22,000 machines in place by the end of 2018, Cope said. (Reporting by Angeliki Koutantou)

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