Athens has short-listed Austrian Lotteries, a joint bid by Sisal, Damco Energy and Damlot and a consortium of the country's betting monopoly OPAP and foreign groups Lottomatica, Scientific Games and Intralot.
Greece did not give a deadline for the submission of the binding bids but an official at the country's privatisation agency said the winner of the 12-year licence will be announced by June with a view to starting operations early next year.
State lotteries had revenues of 348 million euros in 2010 and analysts have said Greece could get between 400 million and 600 million euros from the licence sale.
The indebted nation has slashed its previous 50-billion euro asset sale plan and has sped up its efforts to implement the programme, which includes two multi-billion euro tenders for Athens Hellenikon airport and its natural gas company DEPA.