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OPAP's interim CEO Jan Karas will take over full-time

OPAP has appointed former commercial director Jan Karas to the position of full-time president. Karas is entering the post on January 1, 2021.

Jan Karas appointed permanent general director

Greek gambling operator OPAP announced that former commercial director Jan Karas will assume the position of CEO full-time from the beginning of next year. Mr. Karas has been the interim CEO of the company since June this year.

Mr. Karas will take up the position general manager in full-time work from January 1, and will also be promoted to Executive Member of the Management Board of OPAP.

President of OPAP, Kamil Ziegler, praised Mr. Karas's work as interim CEO. According to him, Mr. Karas made a significant contribution 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 restrictive measures imposed on companies, Ziegler added.

Mr Ziegler concluded by expressing his confidence in the nomination of Mr Karas and said that OPAP was looking forward to tackling the challenges of overcoming the pandemic crisis together.

Successor of Damien Cope

Mr. Karas has been the interim CEO of OPAP since June this year. The company announced the change in May. He is the successor to former CEO Damien Cope, who stepped down after signing a four-year contract.

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

Mr. Karas, who was then OPAP's commercial director, took over most of Mr. Cope's duties while the company was looking for a full-time replacement. In the past, he also served as operational director and sales director.

Stable during the crisis

Last month, OPAP published its financial results for the third quarter. Overall, the operator has managed to maintain financial stability despite the stress and uncertainty caused by the pandemic. OPAP saw a slight decline in revenue of 0.7% year-on-year. However, the company's decision to cut expenses led, in fact, to earnings growth of 6.7% .

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

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

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