OPAP Update on the use of funds raised through the €200m Common Bond Loan

in Finance

Update on the use of funds raised through the €200m Common Bond Loan

29/01/2018

OPAP S.A. informs the investment community, in accordance with the applicable legislation, that on Thursday 25.01.2018 the Company’s Board of Directors convened and discussed, inter alia, the progress of implementation of the investments carried out through the proceeds of the Company’s common bond loan, amounting to €200m in total, the issuance of which was approved by virtue of the resolution of the Company’s Board of Directors dated 28.02.2017.

In particular, at the meeting of the Company’s Board of Directors held on 25.01.2018, it was ascertained that in 2017 a total amount of €48.1m was used for investments, instead of the envisaged amount of €71m, due to a readjustment of the timing for the implementation of the Company’s investment programme. More specifically, the Company invested an amount of €34m in IT systems and agencies equipment, an amount of €7.6m in VLTs and an amount of €6.5m in Self Service Betting Terminals (SSBTs) and Virtual games.

Accordingly, the time schedule for the investment of the funds for financial years 2018 and 2019 is readjusted respectively as follows:

(a) for financial year 2018, the Company will invest €26.9m in IT systems and agencies equipment, €14.6m in VLTs and €8m in Self Service Betting Terminals (SSBTs) and Virtual games; and

(b) for financial year 2019, the Company will invest €15m in IT systems and agencies equipment, €3m in VLTs and €2m in Self Service Betting Terminals (SSBTs) and Virtual games.

 

 

Athens, 29.01.2018

OPAP S.A.