ROME Dec 12 Italy's Lottomatica will
withdraw from a consortium led by Greek sports betting monopoly
OPAP for Greece's state lotteries because the offer
price exceeded its investment limits, a source close to the
dossier told Reuters.
OPAP, together with gaming technology partners Intralot
, Lottomatica and Scientific Games, was the
sole bidder for a 12-year licence to run lotteries which
generated about 60 million euros ($78 million) of profits last
OPAP will take over the state lotteries in a 190 million
euro deal, the cash-strapped government's second privatisation
"Lottomatica will exercise its withdrawal right and will
give its 33 percent stake in the consortium to OPAP," the source
said, adding that the 190 million-euro offer exceeded the terms
of Lottomatica's investment.
Lottomatica was ready to back an offer of up to 150 million
euros, according to market speculation.