OPAP Gets New Head

Thursday 7 January, 2010 18:20

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The giant Greek gambling monopoly group, OPAP, announced the election of a new Chief Executive Officer - Ioannis Spanoudakis.

Spanoudakis' new role is one of several that were available to be filled after previous executives of the group resigned to make way for specially designated sympathizers of the newly elected Socialists.

OPAP runs one of world's largest betting operations in the world and has complete monopoly over Greece's lotteries and sports betting services.

The company employees almost 1000 people and has been in operation since 2000.

The appointment of Spanoudakis will see OPAP receive at its helm one of the most experienced people in the industry.

He served as the Managing Director of the 2004 Athens Olympics Organizing Committee, and has worked for Dow Chemicals.

Another new executive is Charis Stamatopoulos, former Chairman of Athens Airport, who will take over as chairman of the board at OPAP.

The Greek government has a 34% share in OPAP and is thus keen to slow any changes in existing laws that govern the gambling industry in the country.

At present, online gambling is illegal in Greece, although the government is under constant criticism from the European Union to change its laws to align them with free trade regulations signed between member states.

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