On Monday it was reported that Synot will be supplying 2,000 video lottery terminals (VLTs) to the Greek lottery. This week an agreement has been signed for the supply of VLTs to OPAP, which is the company with a legal gaming monopoly in Greece. Ivo Valenta, Chairman of the Board of Directors WCV World Capital Ventures Cyprus Limited, said that this is a significant step forward and that Synot is only one of two European suppliers to succeed as a tender that involves VLT suppliers from across the globe. Also he believes that the door has been opened to a second round as OPAP is going to begin another tender for 18,500 VLTs.
9 years ago, Greek lawmakers abolished legal gaming, but this led to a rise in illegal gaming activities with up to 150,000 unlicensed gaming devices in the financially troubled country. The prevalence of illegal gaming which prompted them to redefine and legislate their gaming market under strict rules. VLT gaming is transparent, allowing for the full control of financial transactions and there is a player registration system which prevents at risk groups from playing on the devices.