Three companies express interest in buying Greek Lottery
ATHENS, GREECE – Three of the biggest lottery companies in the world have shown an interest in acquiring the Greek National Lottery as the debt-ridden EU country looks to sell major assets to ease the financial crisis in the country.
The Greek government has struggled to sell it’s major assets so far as it bids to make up to €50 billion from an ambitious asset sale to stave off bankruptcy, another default on the EU bailout and national debt of 160% of GDP.
According to Reuters news agency some of the world’s biggest gaming majors teamed up to consider a bid, including Lottomatica, Scientific Games and Intralot. The consortium is led by Greece’s OPAP, Europe’s biggest listed gaming company.
Costas Mitropoulos, head of the state’s privatisation agency said, “Despite extremely uncertain economic conditions results from the first stage of the state lottery tender are very encouraging.”
The Greek government is hoping to make upwards of €500 million from the sale of the national lottery, which turned over €348 million last year alone.
The ailing country’s government will be hoping for a quick sale as it has struggled to come close to it’s initial €5 billion asset sales target this year, generating only €1.7bn so far.
Published: December 14, 2011
