ECONOMY

Gaming company Intralot was wronged in Australia (Update)

Greek lottery systems provider Intralot was treated unfairly during a bid for public lottery licences in Australia, according to an independent review published late Thursday.

Intralot had complained that during the negotiation process in 2008 for licences offered in the Australian state of Victoria it was not informed about licence amendments made in rival Tattersall’s favour to provide exclusive sales areas.

A panel reviewing the state’s lottery licences found Intralot should have been advised of the former government’s willingness to negotiate on conditions relating to dedicated areas, a report tabled by the Gambling Licencing Review Panel said.

The Victorian government said that it will consult with lottery licensees and agents before responding to the report’s findings.

Intralot Australia CEO Leo Watling said the findings confirm the company?s view «that it has suffered from prejudicial behavior from the previous government and its agencies.”

?The findings are an important acknowledgement of the damage that has been caused by the previous government’s flawed licencing process,? he added in a statement.

Brokerage National Securities pointed out in a note that the report?s findings are positive for Intralot but added «it may take some time before the Australian government officially acts on the report?s findings.?

Athens-based Intralot, which is present in more than 50 countries, said it «reserves its rights in terms of a legal remedy,» without offering any more details.

Shares in Intralot, which has a market capitalization of 392.6 million euros, were gaining 2.49 percent to 2.47 euros on the Athens bourse in late trade on Friday, versus broader market gains of 0.17 percent.