ECONOMY

State lotteries only get one bid

State gaming company OPAP and foreign firms Lottomatica and Scientific Games are expected to table a joint bid on Tuesday, the deadline for expressions of interest for the utilization of Greek state lotteries.

The three companies have reportedly agreed to form a consortium in association with Intralot in order to bid for the 12-year license to operate the state lotteries, with sources saying the four will split the consortium?s shares in an even fashion.

The main reason for the creation of this strong if incongruous scheme was that banks and creditors refused to fund the bidders, forcing them to cooperate. The development goes against the government?s wishes, as it means there will be no counterbids in the tender, which the state had hoped to fetch between 500 and 650 million euros.

Although a host of other foreign firms had been linked to the tender, including Australia?s Tattersalls, Austrian Lotteries, Canada?s Pollard Banknote and France?s Francaise des Jeux, there was no confirmation of their entry in the bidding on Monday.