Wednesday March 4, 2015 Search
Weather | Athens
20o C
11o 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Until Wednesday there had been some interest from PMU and from Greece’s Intralot but sources say the French bidder has withdrawn and will not be submitting an offer on Thursday.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)  
De Guindos insistent that Greece likely to need another aid program [Update]
For first time in years, euro economy starts surprising on upside
Spain´s De Guindos says next steps for Greece point to third rescue
Greece successfully rolls over 6-month T-bills but yield rises
Merkel says eurozone has hands full with existing Greek bailout program
German Chancellor Angela Merkel on Wednesday refused to speculate if Greece could count on a third aid package from its euro zone partners after Athens had completed its existing bailout pro...
Premature to talk about 3rd Greek bailout, EU´s Juncker says
It is too early to discuss a third bailout package for Greece, European Commission President Jean-Claude Juncker said on Wednesday, stressing the focus of talks with Athens was implementing ...
Inside News
SOCCER
Marinakis fines Olympiakos players
Olympiakos president Evangelos Marinakis on Monday fined the team 500,000 euros for disappointing performances and called on them to make a «sacrifice» to win trophies or leave. "Olympiakos ...
SOCCER
Olympiakos´s Karembeu confident UEFA on top of racism
Olympiakos strategic advisor Christian Karembeu expressed his confidence on Tuesday that UEFA are getting to grips with racism in soccer after suffering abuse during the recent Greek derby a...
Inside Sports
FOCUS
Greek officials have ruffled feathers in Brussels for not having good diplomatic manners
Strapped for cash and under pressure to deliver on reforms, Greece's new radical government has ruffled feathers in Brussels by not respecting the diplomatic niceties of the negotiating tabl...
COMMENTARY
Up the creek without a paddle
One of the issues that dominated the country’s pre-election debate was whether SYRIZA, which eventually won the vote, had worked out a plan B. It was clear from the start that its much-hyped...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Merkel says eurozone has hands full with existing Greek bailout program
2. Premature to talk about 3rd Greek bailout, EU´s Juncker says
3. Chomsky: EU reaction to Greek bid to reverse austerity was ´extremely savage´
4. Schaeuble: Greece needs to fulfill terms of agreement before further aid
5. De Guindos insistent that Greece likely to need another aid program [Update]
6. For first time in years, euro economy starts surprising on upside
more news
Today
This Week
1. Up the creek without a paddle
2. Panousis says no official decision on undocumented migrants
3. Greek officials have ruffled feathers in Brussels for not having good diplomatic manners
4. More Germans booking holidays in Greece, tourism chief says
5. For Greece, a lesson from Ireland, Kenny says
6. ECB glimpse of Cyprus debt shows limits of bank cleanup
Today
This Week
1. Greece to make international protest over Turkey reserving Aegean air space
2. A fierce battle looms
3. SYRIZA feeling the pain
4. The Greek tax drama
5. The unlikely winners of Greece's surrender on euro
6. Tsipras reversal draws Greek sympathy as party rumblings rise
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.