OPAP’s €24.5m Fine: Impact on Finance and Gaming Industry

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The Hellenic Cooperative of Professional Lotteries’ Agents (SEPPP) and other unnamed agents have filed complaints against OPAP. They claim that certain elements of Greek law were breached by the non-compete clauses in OPAP’s 2017 Exclusivity Agency Agreement and its activities between 2017 and 2021.

The Hellenic Gaming Commission (HGC) has determined that OPAP violated article 2 of law 3959/2011, which regulates free competition in Greece. This law prohibits companies from abusing their dominant position in the national market. OPAP, formerly a monopoly in the Greek market, was found to have set unfair prices, limited the distribution of technical equipment, engaged in unfair trading practices, and entered into contracts with supplementary obligations.

Additionally, OPAP was found to have breached article 1 of law 3959/2011. This article states that companies operating in Greece must not fix purchase prices, restrict investment opportunities, or apply unfair conditions to transactions.

The HGC also concluded that OPAP violated articles 101 and 102 of the Treaty on the Functioning of the European Union (TFEU), which mirror the requirements of articles 1 and 2 of law 3959/2011. As a result, the HGC ordered OPAP to cease all operations that infringe these articles.

To enforce compliance with article 2 of law 3959/2011 and article 2 of the TFEU, the HGC has decided to impose a daily fine of €10,000 on OPAP for each day it fails to comply. Furthermore, the company faces a €10,000 fine if it continues to violate article 1 of law 3959/2011. In total, OPAP has been fined €24.5 million for the four breaches.

In response to the fine, OPAP expressed strong disagreement, stating that it believes the decision is unfounded. The company claims that the decision was based on its agencies’ services rather than its core operations in the gaming market. OPAP acknowledges the role of independent administrative authorities, including the Hellenic Competition Commission, but asserts that the HGC did not adequately consider data from the Bank of Greece, which oversees the payments sector in the country.

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Travis Chang is a highly respected writer with a deep-seated passion for gambling and online gaming. With over a decade of experience in the industry, Travis has carved out a reputation for his insightful and well-researched content on casinos, sports betting, poker, and emerging trends in online gambling. His writing is celebrated for its clarity, depth, and ability to make complex subjects accessible and engaging for a wide audience. Travis's articles provide readers with in-depth reviews, expert strategies, and the latest industry developments, empowering them to make informed decisions and enhance their gaming experiences.
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