CEO Jan Karas is the new chairman of Greek gambling group OPAP

David Gravel October 3, 2024

SiGMA news

CEO Jan Karas is the new chairman of Greek gambling group OPAP

Greek gambling group OPAP is pleased to announce the appointment of Jan Karas as the new chairman of OPAP, effective from 1 October. This is a significant milestone for both Karas and OPAP, as he assumes this additional responsibility alongside his current role as Chief Executive Officer (CEO), a position he has held since January 2021. His appointment as chairman reflects his proven leadership and deep understanding of OPAP’s strategic goals.

Karas takes over from Kamil Ziegler, who has been a pivotal figure at OPAP since 2013, serving as both chairman and, at one point, CEO. Ziegler is stepping down from the role for personal reasons but will continue contributing to the company’s growth and success as an executive member of the board. His long-standing service and leadership have been integral to OPAP’s development, and the company is thankful for his ongoing commitment.

The decision to appoint Jan Karas as chairman came on the recommendation of OPAP’s remuneration and nomination committee. This move signals continuity and stability, as Karas is well-placed to continue steering OPAP through a period of robust growth and innovation. Under his leadership, OPAP has seen significant progress, especially in the online casino segment, which has contributed to the company’s strong financial performance.

Leadership and Board Structure

In his role as chairman, Karas presides over a highly skilled and diverse board, ensuring effective execution of OPAP’s vision. Besides his leadership as CEO, he will now work closely with other board members to oversee the company’s strategic initiatives and maintain OPAP’s position as a market leader in the gaming sector.

The newly restructured board also sees Cherrie Mae Chiomento-Ferreria, an independent non-executive member, assume the role of Vice-Chair. Chiomento-Ferreria brings extensive expertise and will work alongside Karas in the group’s governance.

The board includes both executive and non-executive members, providing a balanced mix of operational insight and independent oversight. Key members include Pavel Mucha (Chief Financial Officer), Robert Chvátal, and Nicole Conrad-Forker. Former chairman Kamil Ziegler remains on the board as an executive member, ensuring continuity and the benefit of his vast experience.

A Bright Future for OPAP

Karas’ appointment comes at an exciting time for OPAP. The company has recently reported strong financial results for the first half of the year, with a notable 5.6% year-on-year increase in gross gaming revenue. This growth was largely driven by the online casino segment, which has seen a surge in popularity and player engagement. The segment recorded a 24.2% increase in revenue compared to the previous year, contributing €140.3 million to the company’s overall performance.

Lottery and betting continue to be key revenue drivers, but the rapid growth of the online casino sector highlights OPAP’s ability to adapt to changing market trends and consumer preferences.

As Jan Karas steps into his expanded role, OPAP are confident in his ability to lead them to new heights. His experience, leadership, and strategic insight make him the ideal candidate to guide the company through its next phase of growth.

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