OPAP bid for Greek lottery accepted
Consortium led by Greece's gambling monopoly will run state lottery for 12 years.
The Greek privatisation agency has this morning accepted an offer from a consortium led by OPAP to manage run the country’s lottery for 12 years.
According to Greek news website euro2day.gr, the Hellenic Republic Asset Development Fund’s (HRADF) board of directors agreed to accept an offer for from the consortium “ which also features Lottomatica, Intralot and Scientific Games “ after rejecting an initial offer yesterday.
The bid grants concession for the exclusive right to produce, operate, circulate, promote and manage the Greek state lotteries for a period of 12 years.
The group’s bid was turned away by the Greek State, reportedly falling some 60m short of the asking price for the upfront licence fee. Press reports suggest the sum targeted by the government was around 250m.
The privatisation is part of Greece’s efforts to raise fund in order to tackle its huge levels of national debt.
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.