Stanleybet says court rules to reopen Athens unit

An Athens court ruled that UK-based fixed-odds betting firm Stanleybet can reopen its outlet in the city, the company said on Thursday, opening the way for it to move ahead with its Greek expansion plans.

Stanleybet opened a store in Athens and one in the northern city of Thessaloniki late last year but Greece shut them down for violating a law which protects OPAP's exclusive rights on sports betting until 2020.

Stanleybet said at the time the move violated European Union law and called on the European Commission to act against Greece.

"The court issued a ruling suspending a previous decision on the closure of Stanleybet's store in Athens," Stanleybet said in a press release.

The company said it would continue defending its right to offer its sports betting services across the borders within the European Union.

Stanleybet currently offers sports bets, mainly on soccer events, in Cyprus, Germany, Italy, Belgium, Croatia, Romania and Poland through more than 1,500 outlets.

OPAP has about 5,500 outlets in Greece and Cyprus, with sales of 5 billion euros in 2007, including 2.5 billion on fixed-odds sports bets. Its shares lost 1.67 percent, outperforming the general index, that was down 2.37 percent.