Lottery license tender launched in Greece

The Hellenic Republic Asset Development Fund is the newly established entity responsible for managing Greece’s privatisation programme and revealed that the exclusive licence will cover the National Lottery, the Popular Lottery, the European Lottery, the Instant Win Lottery, the Housing State Lottery and management of the New Year's Lottery.

Credit Suisse Securities (Europe) Limited and Eurobank EFG Equities Investment Firm are acting as financial advisors to the Hellenic Republic Asset Development Fund with the tender being aimed at experienced gaming operators that may participate alone or in consortia.

The Hellenic Republic Asset Development Fund stated that the first stage of the tender process will see potential bidders asked to submit an expression of interest by November 29 along with supporting documents demonstrating their ability to fulfil certain legal, financial and technical criteria. Qualified parties will then be invited to participate in a second stage at the end of which they will be requested to submit binding offers.

“We are pleased to launch this tender,” said Costas Mitropoulos, CEO for the Hellenic Republic Asset Development Fund. “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.”