OPAP gaming company anticipates net profits between 800 million and 1 billion euros per year from its VideoLottery Terminals (VLTs) once they start operating.
The gaming company will operate 35,000 VLT terminals in Greece after obtaining a license in 2011 at a cost of 560 million euros, according to a Kathimerini daily report.
OPAP has run a long campaign in order to build a franchise network of mini casinos, informing potential investors that each “Play” store can have net revenues between 580,000 and 720,000 each year. Three quarters of revenues will be paid to OPAP, while the rest will go to franchisees as commission.
Payment to OPAP will include the listed gaming company’s profits, payments to VLT suppliers and payments of taxes amounting to 30 percent on Gross Gaming Revenue (GGR).
The company expects to have up to 1 billion euros per year in net profits, the Kathimerini report says.
Regarding betting, each players can bet between 0.10 and 2 euros per spin, while maximum earnings will amount to 1,000 euros, with the exception of jackpots when earnings can be significantly higher. Players will be limited to 12 hours per week and 40 hours per month.
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