Tender for Greek horse race betting launched
Interested parties must submit expressions of interest by 12 April.
The Greek government has launched the tender process for the exclusive right to operate horse race betting in the country.
The 20-year contract “ which will include both on and offline betting “ is up for grabs for the first time, with all racetrack wagering until now managed by a company known as Hellenic Horse-race Betting Organisation (ODIE).
According to Greek privatisation agency, the Hellenic Republic Asset Development Fund (HRADF), ODIE is currently loss making due to the service of its debt and a decline in customers.
Submission for expressions of interest from investors must be lodged with HRADF by 1700 (Greece time) on 12 April.
The contract is the latest gambling asset to be sold of by the Greek government in a bid to ease its national debt levels. It has already auctioned off the exclusive right to produce, operate, circulate, promote and manage the Greek state lotteries for a period of 12 years, a tender process won by a consortium led by the country’s existing gambling monopoly, OPAP.
Meanwhile, the HRADF is also responsible for the sale of the Greek government’s 33% stake in gambling monopoly OPAP, with seven interested parties currently thought to be preparing binding offers. The tender process, expected to be highly competitive, will enter its next phase in the coming weeks when bidders will confirm a final offer.
Among the potential suitors is a consortium involving Playtech and German gaming machine manufacturer Gauselmann, and Fosun International, a Chinese business conglomerate with interests in and pharmaceuticals, property, steel, and mining.