OPAP to Pay License Fee to Cash-Strapped Greek Government

A cash injection of EUR935 million should be helpful

The latest reports from cash-strapped Greece involve the announcement that the country's gambling monopoly OPAP will extend its reach in the sector and give a life injection to the state's empty coffers by paying EUR 935 million to the government for a new video lottery licence.

The decision has been approved by the OPAP board of directors, which agreed to the proposal of the Greek state to extend the monopoly for another 10 years from 2020 at a cost of Euro 375 million, and grant the company the right to install 35 000 video lottery machines across the country for another EUR560 million.

This way, the company will become a rather attractive goal for potential buyers who may seek their opportunity to get it at the government's privatization tender.

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