OPAP Cyprus Ltd. has signed a significant Concession Agreement with the Republic of Cyprus, marking a pivotal moment for its operations in the country. Under this agreement, OPAP Cyprus will exclusively conduct, provide, and manage designated games of chance in the Cypriot market for the next 15 years.
Alignment with national goals:
The Concession Agreement reflects the Republic of Cyprus’ strategic objectives outlined in the Law on Designated Games of Chance, introduced in June 2018. These objectives include safeguarding public interest, enhancing market supervision, combating illegal gambling, and promoting responsible gaming practices. The National Betting Authority (NBA) of Cyprus now assumes regulatory oversight of OPAP Cyprus’ operations, ensuring compliance with these goals.
The agreement stipulates that OPAP Cyprus will make annual payments for the license over 15 years, with the first installment of €4.2 million already paid. Subsequent installments are scheduled for payment on January 31 of each license year.
According to OPAP Cyprus S.A’s press release, as part of the Concession Agreement and in adherence to the Law on Designated Games of Chance, OPAP Cyprus will share 22.5% of its Gross Gaming Revenue (GGR) with the Republic of Cyprus. Additionally, the company commits to allocating 5% of its GGR toward sponsorships of sporting, social, and charitable activities within Cyprus. The agreement also sets a minimum annual payment of €20 million to the Republic of Cyprus.
As Philennews reports, Kamil Ziegler, Executive Chairman of OPAP and Chairman of OPAP Cyprus, expressed satisfaction with the new agreement: “We are very pleased to have signed a new 15-year Concession Agreement with the Republic of Cyprus. With over 55 years of operations in Cyprus, we have consistently offered popular games and valuable experiences to our customers while supporting shared goals and impactful social initiatives. We are committed to continuing on this path.”
Community engagement:
OPAP Cyprus has been an integral part of the Cypriot community since 1969, providing popular games such as TZOKER, LOTTO, PROTO, KINO, SUPER 3, EXTRA 5, PROPO, and PROPOGOAL. The company operates an extensive network of over 200 stores, one of the largest commercial networks in Cyprus. It upholds OPAP group’s stringent Responsible Gaming policies, promoting responsible gaming practices.
Beyond gaming, OPAP Cyprus is deeply involved in social responsibility initiatives. The company has made significant contributions to healthcare, including donations of modern mammography equipment and support for cancer treatment and awareness programs. During the COVID-19 pandemic, OPAP Cyprus supported the General National Health System and collaborated with health organizations such as the Cyprus Red Cross, Anti-cancer Association, and PASYKAF.
OPAP Cyprus is a longstanding supporter of Cypriot sports, partnering with the Cyprus Sports Organisation, the Cyprus Olympic Committee, and numerous sports federations. The company contributes to sports infrastructure and national championships and supports the Cyprus Olympic Team. In cultural endeavors, OPAP Cyprus collaborates with the Deputy Ministry of Culture, sponsoring events ranging from the Cyprus Symphony Orchestra Foundation to local and international festivals.
In education, OPAP Cyprus collaborates closely with the Ministry of Education, Sport, and Youth to support youth development initiatives. The company has implemented programs such as providing free meals to students during economic crises, supporting music and sports schools, and promoting innovative educational projects in science, culture, and sports.
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