Greek gambling monopoly OPAP is set to bid €40 million ($52.5 million) for the country’s horseracing betting licence, according to various reports.
The move, which will see OPAP will link up with British fund manager Global Family Partners, comes just days after the Hellenic Republic Asset Development Fund (HRADF) turned down the sole offer in the previous tender.
HRADF rejected a bid from Intralot for the 20-year licence as it did not meet the agency’s expectations.
The joint bid from OPAP and Global Family Partners will reportedly be around €40 million, which is substantially more than the €5.3 million offered by Intralot.
HRADF launched the tender anew on August 29 and requested that any interested investors should submit a bid by September 19.
The tender will conclude by the end of September and the estimated value of the licence is €15 million.
Greece is selling the licence as part of a privatisation plan set up by the European Union and the International Monetary Fund under the country’s bailout program.
source : www.igamingbusiness.com
