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OPAP launches 100-mln-euro investment program

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OPAP, a Greek-listed lottery and betting games operator, continues investing on its network, the backbone of its business activity in order to enhance the foundations of a joint future growth of the company and its agents.

The investment, worth 100 million euros, aims to develop agents into local entertainment destinations and to maximize their prospects, company sources said, adding that investments made so far to upgrade the portfolio of product and services have created an additional turnover of 500 million euros and additional revenue worth 40 million euros for agents.

OPAP sources said these investments responded to the evolving expectations of customers and intensified competition, adding that a mutual development of OPAP and its agents was based, mostly, on their response to the needs and expectations of customers in a dynamic and changing environment.

Investing on agent network is a strategic priority for the company, consistent with the Vision 2020, which envisages the establishment of OPAP as a global class company in the sector of lottery games and entertainment. Despite an ongoing crisis, OPAP is implementing one of the biggest investment and business initiatives in Greece, worth 100 million euros. This investment will create a safe and stable environment for its agents for the next five years. A new contract signed by OPAP and its agents will play a decisive role to achieve this goal, as it was drafted based on commercial criteria, fully responding to current data, it was fair and established policies and tools that give a boost to network growth and ensured stability for the next five years. The new contract also clarified the landscape in commission policy, establishing a commission factor on net revenue from games, making life more simple for OPAP and its agents.

OPAP is seeking network growth by investing in three pylons: product and services, stores and agent support.
OPAP said that the biggest part of the 100-million-euro investment will be made in 2017, offering agents more tools and opportunities to expand activities and boost revenues (for example, virtual games could boost revenue based on Inspired data base and examples drained from the experience in the Italian market).

The company will seek an upgrade of its betting services, horse betting, KINO and Joker, introducing play games, new payment services through Tora, virtual games by Inspired and automatic services devices SSBTs. It also plans to upgrade its IT infrastructure. OPAP sources said a top priority for 2017 was to begin operations of its play games through a big part of its existing agent network and through the exclusive gaming halls.

The company said that in 2016 more than 500 agents participated in a Retail Excellence program and training sessions, which contributed to the creation of additional commissions worth 1.5 million euros to these agents.

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