2nd of November 2011 Author: Ava Jackuard
Tender opened for a 12-year license
A novelty in the Greek gambling market emerged this week when the newly established Hellenic Republic Asset Development Fund, which is in charge of managing Greece's privatisation program that serves to pay down the budget deficit, initiated a Hellenic Lotteries tender process. The financial advisors to the fund on this tender are Credit Suisse Securities (Europe) Limited and Eurobank EFG Equities Investment Firm S.A.
The tender aimed at experienced gaming operators, is to award the 12-year licence to operate and manage the Hellenic Lotteries; apparently, the licence will include the exclusive right to operate and manage the Hellenic Lotteries, which comprise the National Lottery, the Popular Lottery, the European Lottery, the Instant Win or Scratch Lottery, the Housing State Lottery and management of the New Year's Lottery.
The tender will come in a couple of stages - in the first one, bidders should submit their expression of interest and supporting documents, proving that they comply with certain legal, financial and technical criteria. The deadline for submitting applications is 17.00 Greece time on 29 November 2011. In the second stage, qualifying bidders will be requested to submit binding offers.
In a comment on the tender, Costas Mitropoulos, CEO of the Hellenic Republic Asset Development Fund, said: 'We are pleased to launch this tender. As the first to address the international market, it is a significant step forward in our privatisation programme. The Lottery business in Greece presents important growth opportunities and we believe experienced operators will find it attractive.'
Well Greece could definitely use an influx of cash but don\'t think will help much. Could be interesting to see who comes out of the tender process on top.
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