The EU Commission finds that the arrangements for the extension of the exclusive right to operate 13 games of chance in Greece don’t appear to confer an economic advantage (OPAP)

The Curious Case of Applying the Market Economy Investor Principle to a Monopoly* On 3 October 2012, the European Commission concluded, in case SA.33988, that OPAP, the Greek operator of games of chance received no state aid because the Market Economy Investor Principle applied. [1] At first glance there is nothing unusual about a finding of no aid. But, as always, the devil is in the detail. OPAP holds the exclusive rights to organise various games of chance such as lotteries and betting on the outcome of football matches. In return it pays a fee to the Greek state. According to the Commission, the exclusive rights resulted in no advantage in the meaning of Article 107(1) TFEU because OPAP paid a licence fee that did not allow it to earn more than the “average” company. The MEIP