Head of Greek gambling monopoly named
The biggest gambling operator in Europe is OPAP. The company which owns a gambling monopoly in Greece, hired former Olympic organizer to run their company.
Yannis Spanoudakis has been named the Chief Executive Officer of OPAP. The company, which has almost 1,000 employees, has been operating in Greece since 2000.
In the past, any form of competition for OPAP has been opposed by the government in Greece. Other companies have attempted to enter the market, but they have largely failed. Stanleybet was the most recent attempt, but they were shut down very quickly.
Greece is one of the countries having problems with the European Commission because of their Internet gambling laws. Online gambling is illegal in Greece and outside companies are not permitted to accept customers from Greece.
This is similar to the situation in the US. The laws in the US are vague when it comes to Internet gambling, but the country has gone after gaming companies who have accepted US customers, one of which was PartyGaming, one of the largest online gaming companies in the world.
OPAP is majority owned by the Greek government, with the government holding a thirty-four percent share of OPAP. This is the reason the government has been slow to change their existing laws that allow OPAP to operate as a monopoly.