Sticking to Their Word

11/21/2008		Sticking to their Word
Home History Games News Dictionary		OPAP is the Greek gambling monopoly. At the beginning of this month OPAP had issued a threat and just this week they made good on their word. A surprise to all, including StanleyBet. StanleyBet opened new betting shops in Greece, much to the dismay of OPAP. Chief executive of OPAP Christos Hadjiemmanuil told the Reuters news agency that no one had ever attempted to challenge the firm’s monopoly, and that he would be initiating legal action. Well he was not kidding. The doors to StanleyBet’s new betting shops had been opened just over a week when the local police raided the shops, arrested a couple of employees and confiscated gambling machines and equipment. This was confirmed by the Dow Jones news reports. Police officials did confirm that the raids were done after a complaint saying the new StanleyBet betting shops were conducting illegal betting. The complaint was confirmed that it did come from OPAP. The complete complaint did say that StanleyBet was conducting illegal betting without a permit from the appropriate authorities and that the company was going to keep all profits at the expense of the Greek state. Without question, StanleyBet International defended itself and its right to offer gambling services without hindrance to the citizens of another European Union nation, as a company in a European Union. The company does have some clout as they have significant resources in other countries such as Poland, Romania, Croatia, and at least 1,400 outlets in Belgium. “According to articles 43 - 49 of the European Charter, StanleyBet International has the right to offer its services to the European Union member states, even if a member state sets monopolistic barriers.” This was a statement issued from StanleyBet as they were setting up shop in OPAP territory.

11/21/2008

Sticking to their Word

OPAP is the Greek gambling monopoly. At the beginning of this month OPAP had issued a threat and just this week they made good on their word. A surprise to all, including StanleyBet.

StanleyBet opened new betting shops in Greece, much to the dismay of OPAP. Chief executive of OPAP Christos Hadjiemmanuil told the Reuters news agency that no one had ever attempted to challenge the firm’s monopoly, and that he would be initiating legal action. Well he was not kidding. The doors to StanleyBet’s new betting shops had been opened just over a week when the local police raided the shops, arrested a couple of employees and confiscated gambling machines and equipment. This was confirmed by the Dow Jones news reports. Police officials did confirm that the raids were done after a complaint saying the new StanleyBet betting shops were conducting illegal betting. The complaint was confirmed that it did come from OPAP. The complete complaint did say that StanleyBet was conducting illegal betting without a permit from the appropriate authorities and that the company was going to keep all profits at the expense of the Greek state.

Without question, StanleyBet International defended itself and its right to offer gambling services without hindrance to the citizens of another European Union nation, as a company in a European Union. The company does have some clout as they have significant resources in other countries such as Poland, Romania, Croatia, and at least 1,400 outlets in Belgium.

“According to articles 43 - 49 of the European Charter, StanleyBet International has the right to offer its services to the European Union member states, even if a member state sets monopolistic barriers.” This was a statement issued from StanleyBet as they were setting up shop in OPAP territory.