OPAP set to extend monopoly
According to a report from the Reuters news agency, partly State-owned OPAP, one of Greece's most prized listed assets, is key to the country’s efforts to raise four billion euros via privatisations this year and convince international lenders that it is meeting obligations under the new portion of a bailout from the European Union and International Monetary Fund.
The new monopoly is set to run for ten years from 2020 and cost OPAP 375 million euros while the government has granted the operator a sole license to install 35,000 more video lottery terminals in the country for an additional dispensation of 560 million euros.
The deal agreed in principle by OPAP would see it hand over five percent of the profits it makes from each video lottery terminal for the duration of the monopoly while also paying 474 million euros up front for the right to site the 35,000 additional units.
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