Ο κ. Ziegler έχει διατελέσει επίσης μέλος Διοικητικών Συμβουλίων και Εποπτικών Συμβουλίων πολλών εταιρειών στην Τσεχία, στην Ολλανδία, στην Κύπρο και στην Αυστρία.
Ο Όμιλος ΟΠΑΠ δραστηριοποιείται στην Κύπρο εδώ και 55 χρόνια. Πώς βλέπετε την πορεία της εταιρείας όλα αυτά τα χρόνια; Πώς πιστεύετε ότι θα εξελιχθεί στο μέλλον;
Επιπλέον, θα διατηρήσουμε το ρόλο μας ως διαχρονικός υποστηρικτής του κυπριακού Αθλητισμού, ενώ παράλληλα θα συνεχίσουμε τις θεσμικές συνεργασίες μας στον τομέα του Πολιτισμού, με στόχο τη διαφύλαξη της πολιτιστικής κληρονομιάς και την ανάπτυξη του πολιτισμού. Επίσης, στην Παιδεία, θα συνεχίσουμε να στηρίζουμε τις σχολικές υποδομές, καθώς και προγράμματα που προάγουν την επιστήμη, τον πολιτισμό και τον αθλητισμό μεταξύ των νέων, οι οποίοι αποτελούν το μέλλον της χώρας. Τέλος, θα εστιάσουμε περαιτέρω σε δράσεις για το Περιβάλλον, υλοποιώντας πρωτοβουλίες που θα φέρουν απτά αποτελέσματα.
Συνέντευξη στα Αγγλικά:
OPAP Group has been active in Cyprus for 55 years now. How do you see the company’s course over the years? How do you think it will evolve in the future?
As you rightly mentioned, OPAP has been active in Cyprus since 1969, evolving alongside the country throughout these years. Today, we are an active part of Cypriot economy and society, a strong and reliable partner of the Republic of Cyprus, and a company committed to high standards of ethics, corporate governance and transparency.
OPAP Cyprus contributes to the economy through its broad network of 200 stores, which provide popular games and support over 1,000 jobs across the country. At the same time, our company is strongly committed to generating value for all of its stakeholders. In fact, our significant social impact is evident through initiatives in the fields of Health, Sport, Culture, and Education.
We will keep building on this heritage, and we remain focused on pursuing growth and evolution, also following the new 15-year concession agreement that we signed recently with the Republic of Cyprus.
As you said, OPAP Cyprus and the Republic of Cyprus recently signed a 15-year concession agreement. Which are the agreement’s key provisions?
Based on the concession agreement, OPAP Cyprus has been granted a 15-year license to exclusively conduct, provide, and manage designated games of chance in Cyprus. The license was awarded by the National Betting Authority, which is now the regulatory body that will oversee the activities of OPAP Cyprus.
The license fee is payable in 15 annual installments, with the first installment of €4.2 million already paid. Additionally, the participation of the Republic of Cyprus in the GGR of OPAP Cyprus amounts to 22.5%, while an additional 5% of the company’s GGR will be directed to sponsorships of sports, social, and charitable activities in Cyprus. It is worth noting that the minimum annual proceeds of the Republic of Cyprus are set at €20 million. So, as we can see, we are talking about dozens of millions every year to be delivered to the Cypriot State and society.
Which are the main benefits for the Republic of Cyprus and OPAP Cyprus from the concession agreement?
I firmly believe that the concession agreement depicts a fair and balanced agreement that respects the roles and objectives of both parties.
Moreover, the concession agreement will strengthen Cyprus’ public finances by around half a billion euros during this 15-year period, according to estimates of Finance Ministry officials and of our company. This figure is increased compared to the past. At the same time, the concession agreement enables the better protection of public interest.
For OPAP Cyprus, the concession agreement provides a stable environment, in which we can implement our long-term business planning and leverage growth opportunities, to reinforce our leading position in the Cypriot market.
Finally, the agreement enhances the excellent cooperation between the Republic of Cyprus and OPAP Cyprus, allowing both parties to continue pursuing initiatives for the good and prosperity of Cypriot society – and especially of Cyprus’ younger generation, the country’s most valuable asset.
When signing the concession agreement, the Finance Minister referred to a “new era for the Cypriot gaming market”. What does this mean exactly, in your perspective?
For OPAP Cyprus, the signing of the concession agreement is definitely a historic moment. Besides, as Finance Minister Mr. Keravnos said, the concession agreement creates a new, healthy and sustainable framework, both for the cooperation between the Republic of Cyprus and OPAP Cyprus, and for the gaming market as a whole. This alone justifies the statement for a “new era”.
Additionally, the concession agreement reflects Cyprus’ overall progress in regulatory and market supervision issues. At the same time, it is an agreement that respects the legal and regulatory framework, while being fully aligned with the EU law. In any case, a new 15-year cycle begins, in which we will continue generating added value for the economy and society.
Could you give us more details on how the Republic of Cyprus and OPAP Cyprus reached to the concession agreement?
As you may know, OPAP's activities in Cyprus were until recently governed by the bilateral agreement of 2003 between the Hellenic Republic and the Republic of Cyprus. Obviously, this agreement could not reflect the situation in the market any longer. in 2018, the Republic of Cyprus promoted the modernization of its legal and regulatory framework for the gaming market, establishing the Law on Designated Games of Chance.
This law set the foundations for the concession agreement between the Republic of Cyprus and OPAP Cyprus. Consequently, and after extensive negotiations, the concession agreement was finalized and signed on June 26, 2024. In my view, the most important thing is that the concession agreement aligns with longstanding objectives of the Republic of Cyprus, including the enhancement of market supervision, tackling illegal gambling, and promoting responsible gaming.
On the sidelines of the signing of the concession agreement, there has been a discussion about the appointment of G. Christodoulides in OPAP Cyprus’s BoD. What is your position on this?
I want to be clear on this issue: There was, in no way, any conflict of interest. The appointment of Mr. Christodoulides was fully transparent, meritocratic, and compliant with the legal obligations for companies operating in Cyprus. It was my personal decision to nominate him as OPAP Cyprus’ BoD member, because I consider him a very skilled executive, with valuable working experience not only from Cyprus, but also from Greece and other international markets, as well as a person of high ethical standards, who could significantly support us in our activities.
All relevant information on his appointment was publicly available and accessible to everyone already since February 2024, when they were uploaded in the e-services of the Department of Registrar of Companies and Intellectual Property. Moreover, he was given approval by the bank he works for, before joining the BoD of OPAP Cyprus. Besides, given his role, he was not anyhow involved in the negotiations between the Republic of Cyprus and OPAP Cyprus.
A few days ago, Mr. Christodoulides handed us his resignation. Personally, I regret this decision, because of the reasons I previously mentioned to you.
Now that the concession agreement has been signed and the license has been awarded, which are the main corporate and business priorities for OPAP Cyprus?
As I previously said, the concession agreement is a milestone for OPAP Cyprus, as it provides for a stable environment to implement our business and investment plans.
The agreement enables OPAP Cyprus to further enhance its product portfolio through new product features and innovations. At the same time, we will promote initiatives to upgrade our customers’ experience and satisfaction, always in collaboration with our network of agents – our valuable partners across Cyprus. Finally, we will continue operating with professionalism and high standards of ethics and corporate governance.
These are some of the key strategic priorities for OPAP Cyprus in the coming years. In any case, we remain committed to leveraging our company's potential and achieving ambitious goals. Personally, I am confident that we will meet our goals thanks to the dedication, talent and hard work of the people of OPAP Cyprus.
And a final question: OPAP Cyprus is renowned for its social contribution in many areas. Will the company continue in the same direction after the signing of the concession agreement?
In one word: Yes. OPAP Cyprus is a long-term and credible ally of Cypriot society, providing tangible support in many areas and responding to social needs – and we will keep moving on the same path.
As a responsible corporate citizen, OPAP Cyprus will pursue participating in projects with a significant and lasting impact for Cypriot citizens. This especially applies for our initiatives in the sensitive field of Health, in which we already implement activities like modern medical equipment donations and awareness campaigns, supporting both the State and acclaimed organizations that perform valuable work.
Besides, we will maintain our role as a long-standing supporter of Cypriot Sport, while we will also continue our institutional collaborations in the field of Culture, aiming to protect the country’s cultural heritage and promote cultural development. Also, in Education, we will keep supporting school infrastructures, as well as educational programs that foster science, culture, and sports among young Cypriots, who are definitely the country’s future. Finally, we will focus more on action for the Environment, implementing initiatives that will bring tangible results.