OPAP plans investment after €200m bond issue

Greek gambling company OPAP is to push ahead with its internal investment strategy after securing a €200 million ($215.7 million) bond issue. In a statement, OPAP said it will use funds from the issue to expand its video lottery terminal business, as well as upgrade its lottery and gambling networks. OPAP will commit €72 million to improvement in its IT infrastructure, while €25 million will be used to expand its VLT network and €20 million for installing new self-service betting terminals. The company said its shareholders have given their approval to the plans, adding that funding parties have offered the operator access to twice the investment. Related article: OPAP hit by Greek austerity tax rise as profit drops