OPAP interim CEO Jan Karas will take over full time

OPAP has appointed former chief commercial officer Jan Karas as full-time president. Karas assumes the position effective January 1, 2021.

Jan Karas appointed as permanent Director-General

Greek gambling operator OPAP announced that former chief commercial officer Jan Karas will take over as full-time CEO starting early next year. Mr. Karas has served as the company's interim CEO since June of this year.

Mr Karas will take up his position the Director-General w full-time since January 1, and will also be promoted to Executive Member of the OPAP Board.

OPAP President, Kamil Ziegler, praised Mr. Karas' work as interim CEO. According to him, Mr Karas has made significant contributions to the operator's business initiatives. He also played a key role in the company's response to the COVID-19 pandemic and in navigating the restrictive measures imposed on businesses, Ziegler added.

In closing, Mr. Ziegler expressed confidence in Mr. Karas' appointment and said that OPAP looks forward to facing the challenges of pandemic recovery together.

Damien Cope's successor

Mr. Karas has served as interim CEO of OPAP since June of this year. The company announced the change in May. He succeeds former CEO Damien Cope, who stepped down following the signing of a four-year contract.

Mr. Cope currently advises the OPAP board and works closely with the majority shareholder of the Sazka Group.

Mr. Karas, who was then OPAP's chief commercial officer, assumed most of Mr. Cope's responsibilities while the company searched for a full-time replacement. He has also served as chief operating officer and director of sales in the past.

Stable in times of crisis

Last month, OPAP released its third quarter financial results . Overall, the operator has managed to remain financially stable Despite stress and uncertainty caused by the pandemic. OPAP reported a slight decline in revenue of 0.7% year-on-year. However, the company's decision to cut spending actually led to an increase in profits of 6,7% .

The company's operating expenses decreased by 5% and marketing costs are 20% less compared to the same period last year.

OPAP has also taken steps to expand its product offerings. In October, content provider Inspired Entertainment launched its virtual basketball game V-Play Basketball across OPAP's large network of more than 3,700 retail outlets.