State expects 700-800 mln from lotteries

A concession to a private consortium for the operation of Greece’s state lotteries for the next 12 years is expected to fetch 700 to 800 million euros, according to the Hellenic Republic Asset Development Fund (TAIPED).

This amount will consist of a deposit of around 200 million euros and a guaranteed amount of 580 million euros over the 12-year period (30 million in the first year and 50 million per year thereafter), but it may well increase if lottery sales surpass a certain level, well-informed sources have told Kathimerini.

Original hopes for a deposit of 250 million euros have been all but abandoned as most of the firms that comprise the sole bidding consortium are putting pressure for the smallest possible amount to be paid up front.

The only bid to have reached TAIPED for the 2013-24 operating license is from the consortium made up of OPAP Investment (34 percent), Lottomatica (33 percent), Intralot (16.5 percent) and Scientific Games (16.5 percent), with state-controlled OPAP under pressure from its partners to reduce the deposit amount.

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