OPAP Cyprus Signs 15-Year Concession Agreement with Republic of Cyprus

OPAP Cyprus Ltd. has reached a significant milestone by signing a 15-year Concession Agreement with the Republic of Cyprus, solidifying its exclusive role in conducting designated games of chance within the Cypriot market.

The Concession Agreement aligns with the Republic of Cyprus’ strategic goals outlined in the Law on Designated Games of Chance, focusing on public interest protection, market supervision enhancement, and the promotion of responsible gaming. The National Betting Authority (NBA) of Cyprus will oversee OPAP Cyprus’ operations to ensure compliance with these objectives.

Under the agreement, OPAP Cyprus will make annual payments for the license, with an initial installment of €4.2 million already disbursed. Additional payments are scheduled annually on January 31.

According to OPAP Cyprus S.A.’s press release, the company commits to sharing 22.5% of its Gross Gaming Revenue (GGR) with the Republic of Cyprus and allocating 5% of GGR to sponsor sporting, social, and charitable activities within Cyprus. A minimum annual payment of €20 million is also guaranteed.

As reported by Philenews, Kamil Ziegler, Executive Chairman of OPAP and Chairman of OPAP Cyprus, expressed satisfaction with the agreement, stating, “We are very pleased to have signed a new 15-year Concession Agreement with the Republic of Cyprus.”

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Community Impact and Social Responsibility

Since its inception in 1969, OPAP Cyprus has played a pivotal role in the Cypriot community, offering popular games like TZOKER, LOTTO, PROTO, KINO, SUPER 3, EXTRA 5, PROPO, and PROPOGOAL. With over 200 stores, it operates one of Cyprus’ largest commercial networks, upholding stringent Responsible Gaming policies.

Beyond gaming, OPAP Cyprus is deeply committed to social responsibility. The company has made significant contributions to healthcare, including donations of modern mammography equipment and support for cancer treatment programs. During the COVID-19 pandemic, OPAP Cyprus collaborated with the Cyprus Red Cross and other health organizations.

In sports, OPAP Cyprus supports national championships and the Cyprus Olympic Team, partnering with the Cyprus Sports Organisation and the Cyprus Olympic Committee. Culturally, it sponsors events such as the Cyprus Symphony Orchestra Foundation and local festivals.

In education, OPAP Cyprus collaborates with the Ministry of Education, Sport, and Youth to support youth development initiatives, including providing free meals to students during economic crises and promoting educational projects in science, culture, and sports.

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