William Hill has signed an agreement with Demco Group to explore betting opportunities in the South Eastern European region. The agreement will see the two companies working together to monitor the regulatory position within the Greek market, and actively pursue opportunities arising from any deregulation of betting with the Greek State. Additionally, the agreement will see the two organisations investigating other South Eastern European markets such as Romania and Bulgaria to jointly investigate and benefit from business opportunities in the betting sector.
Taking bets within the Greek state is currently under monopoly control of OPAP. It is however broadly anticipated that there will be some form of opening up of the Greek market in the medium term. The agreement between William Hill and Demco allows for the two groups to develop a joint venture following any such deregulation of the territory.
Demco Group has founded a number of successful Greek businesses in various sectors, including insurance, financial services, mobile, fixed line and satellite telecommunications, general aviation and the food industry. In addition, the Group has interests in media companies.
Commenting on the agreement, David Harding, Chief Executive of William Hill, said:
“With a population of 10 million people and a passion for sport, a deregulated Greece would offer an attractive betting market. When the time is right, this agreement will allow us to combine our skills in sports betting with Demco Group’s excellent track record in building successful businesses within Greece.”
