OPAP’s chief financial officer departs

Greek lottery and sports betting operator OPAP has announced its chief financial officer Michal Houst will leave the company in September 2019.

Houst joined OPAP in 2013 and played a key part in the privatisation of the business, however he said he now wishes to pursue other opportunities.

Speaking about his departure, Houst said he had enjoyed the last six years at OPAP, citing the opportunity to impact the transformation of the business over this time period.

“I am confident that the already set foundations will allow OPAP to continue its successful path, adding value and further solidifying its unique position in the gaming spectrum in Greece and in general,” Houst added.

OPAP CEO Damian Cope paid tribute to the role Houst had played within the firm during the last six years, citing is his “major commitment” to the business.

“His relentless focus and personal dedication have played a critical part in OPAP’s development during this time.  He will be missed by everyone at OPAP and we wish him much success in his future endeavours,” Cope added.

OPAP has confirmed it has already commenced the recruitment process to appoint Houst’s successor.

Earlier this month, Czech operator Sazka Group launched a takeover bid for OPAP, with Sazka offering to purchase the remaining 67% of the business at a cost of €14 a share.

The Greek government initially sold a 33% stake in OPAP to Sazka in 2013 as part of its multi-billion EU-backed international bailout package.

However, at this stage there has been no confirmation from OPAP as to whether this offer has been accepted.