Thursday October 2, 2014 Search
Weather | Athens
27o C
19o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Intralot to run one-horse race for betting permit

By Vangelis Mandravelis

State privatization fund TAIPED is expected to launch another tender with just one bidder, as it has done on several occasions since it started operating, on Thursday. At stake is the operating license for horse-race betting. Until Wednesday there had been some interest from PMU and from Greeces Intralot but sources say the French bidder has withdrawn and will not be submitting an offer on Thursday.

The tender is scheduled for 5 p.m., and up until late on Wednesday there were no signs suggesting a change in the situation, meaning that Athens-listed Intralot will likely be the sole participant in the bidding process. TAIPED had originally said it could have granted an extension by a few days for the tender, provided there was demand.

The withdrawal of PMU, according to sources, was due to the cost of leasing the racecourse at Markopoulo in eastern Attica in order to put on races. Although TAIPED reduced the original price to 2.5 million euros per year, this was apparently deemed unsatisfactory by the French investors. They had expected a lease rate proportionate to the revenues or the profits they would generate from Greek horse racing.

Market experts have criticized TAIPED for linking the development of this huge property belonging to the state-owned Horse Racing Organization (ODIE) and valued at 200 million euros, with the auction of the operating license. They also argue that the price is too high, given that an investor could build a new, more efficient and more accessible (from Athens) racecourse for around 20-25 million euros.

The remaining bidder for the permit does not appear too concerned about the level of the lease. If Intralot gets the license for horse-race betting it will attempt to offset the annual lease rate with the money owed to it by ODIE, which Intralot calculates at over 20 million euros. The company has informed TAIPED of the debts.

Cash-strapped ODIE has reportedly planned an auction for the Markopoulo racecourse on September 23, just six days before the deadline set by the European Commission demanding that Athens makes a final decision on the property.

ekathimerini.com , Wednesday Jul 30, 2014 (22:47)  
ECB to begin buying secured debt, bundled loans from mid-month
Draghi says ECB will purchase assets for at least two years
Draghi says ready to do more to fight low inflation
ECB holds rates, shifting focus to new purchase plans
Marble door discovered in Amphipoli reinforces theory of ancient Macedonian tomb
Pieces of a broken, two-piece, Thasian marble door discovered at the excavation site on Kasta Hill on Thursday were expected to reinforce the belief that the tomb was erected during the anci...
Six face prosecutor for bank robberies, terrorist activity
Six people detained in Athens and Thessaloniki on Wednesday in connection to bank robberies and possible terrorist activity faced a prosecutor on Thursday. The suspects, four Greek men, aged...
Inside News
SOCCER
Rosenberg confident after win over Olympiakos
Malmoe captain Markus Rosenberg scored twice in the Swedes' 2-0 win over Olympiakos on Wednesday and illustrated his confidence in the team after the game. Rosenberg capitalized on slack def...
SOCCER
Rosenberg punishes Olympiakoss errors at Malmoe
A disappointing Olympiakos got the worst possible result from its clash with Malmoe in Sweden for the Champions League, going down 2-0 on Wednesday due to its own defensive errors and attack...
Inside Sports
COMMENTARY
Theres money, still
The decision reached by Prime Minister Antonis Samaras and his deputy, Evangelos Venizelos, to seek a vote of confidence in Parliament on October 6, is a final attempt to restore order in th...
EDITORIAL
Confidence and corrections
The government must secure a vote of confidence in Parliament. Any other development would see the country enter very turbulent waters. Prime Minister Antonis Samaras and his cabinet must ag...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. ECB to begin buying secured debt, bundled loans from mid-month
2. Draghi says ECB will purchase assets for at least two years
3. Draghi says ready to do more to fight low inflation
4. Marble door discovered in Amphipoli reinforces theory of ancient Macedonian tomb
5. Rosenberg confident after win over Olympiakos
6. ECB holds rates, shifting focus to new purchase plans
more news
Today
This Week
1. Doctors, medical employees strike over staff shortages, wages
2. Court to hear Kasidiriaris-Kanelli case
3. Air travel to run smoothly after air traffic controllers' weekend strike deemed illegal
4. Pensioners stage rally in central Athens
5. European stocks decline as investors await ECB policy meeting
6. Moscovici in charge of budgets seen prompting EU deficits debate
Today
This Week
1. Greece may opt for unusual president to avoid snap polls, Venizelos says
2. Woman allegedly buried alive by accident in northern Greece
3. Salaries in Greece continue to slide, dipping 1.4 pct in Q2
4. Should you bet with Kissinger on where the world is heading?
5. Cypriots divided by 1974 war seek Shariah hub
6. The shocking thought of euro-dollar parity
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.