Greece – It has been reported today that Greek gaming firm established in 1958 and with exclusive rights to the operation and management of numerical lotteries, sports betting games, horseracing betting and instant win games in Greece; OPAP has increased its majority share in online bookmaker Stoiximan.
The deal, which was announced today will see OPAP increase its equity in Stoiximan, which operates in Cyprus and Greece and has been the majority shareholder since last year with a 95 million Euro acquisition of 51%.
Damian Cope, OPAP Group Chief Executive commented on the announcement:
“Led by George Daskalakis, the Stoiximan team continues to successfully deliver impressive growth in all the markets in which they operate.”
‘OPAP stated that the investment reflected a ‘clear recognition’ of Stoiximan’s impressive growth and future prospects within the Greek and Cypriot betting markets.’
Chief executive officer and co-founder of Stoiximan George Daskalakis said:
“Since OPAP’s initial investment 14 months ago, both Stoiximan and Betano have achieved impressive growth. This is the result of a strategic plan executed with consistency and professionalism by a team of more than 700 highly dedicated colleagues, who I am honoured to lead.
OPAP’s decision to increase its investment in Stoiximan essentially fuels the prospects of our company in the future, but mainly constitutes a strong vote of confidence in our way of doing business.
We embark upon this next day of creativity with the same commitment and the same determination, to work hard in order to further consolidate Stoiximan’s position as the leading operator in the Greek online gaming market, while at the same time strengthen the growth of Betano in all target international markets.”