Opap Wins 20 Year Greek Horse Race Betting Licence (update)

Bests Intralot with an offer of Euro 40.5 million for the exclusive licence

The Hellenic Republic Asset Development Fund (HRADF) has named OPAP the successful bidder for the sole Greek horse race betting licence.

The HRADF scrapped the previous tender last month due to insufficient interest (see previous InfoPowa reports), relaunching it earlier this month.

OPAP, part owned by Czech-led investment vehicle Emma Delta, successfully tendered for the 20-year licence that will allow it to exclusively take wagers on horse races by submitting a winning bid of Euro 40.5 million.

According to Greek news source eKathimerini, OPAP offered between three and seven times higher than rival bidder Intralot.

Hereon HRADF will submit a draft contract to the State Audit Council for approval followed by submission to Parliament for ratification.

Horse race betting is currently run by a group called ODIE, which made a net loss of Euro 23.4 million in 2012.

Online Casino News Courtesy of Infopowa

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The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
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