In efforts to generate much needed revenues, Greek officials decide to auction off a horse race betting license with OPAP being the main candidate to seal the deal.
Greek Organization of Football Prognostics (OPAP) is leading the way to claim the license, after a previously favored party decided to opt of the deal. Hellenic Republic Asset Development Fund (HRADF) rejected a previous offer from another firm which opened the door for OPAP to come in and become a serious contender for the horse racing license.
Gambling news reports that the European Union and the international Monetary Fund (IMF) have devised the privatization plan as part of the bailout efforts to help Greece overturn its economy. The license will be issued for a period of twenty years which is sure to bring in promising earnings for any potential provider.
OPAP tables a EUR 40 million bid for license
HRADF dropped mobile betting firm Intralot out of the running for the license deal after it failed to meet the expectations that have been sought by the agency. Therefore OPAP has been handed an opportunity to step in to get the license.
OPAP will join forces with British finance company Global Family Partners as they hope to table a EUR 40 million offer to have the right to facilitate their gaming services. This fee represent quite an increase on Intralot’s initial offer, as they have only bid a modest EUR 5 million for the license.