November 30, 2012 / 6:00 PM / in 5 years

Greece's OPAP submits only bid in lotteries privatisation

ATHENS, Nov 30 (Reuters) - Greece’s sports betting monopoly OPAP moved a step closer to taking over the state lotteries being privatised by the indebted country as part of its international bailout, as the only party to submit a bid document.

OPAP tabled a bid with its gaming technology partners Intralot, Lottomatica and Scientific Games , privatisation agency HRADF said on Friday.

This leaves the group as the only possible winner of the 12-year licence to run a series of lotteries, which had revenues of 348 million euros ($453 million) in 2010, if it submits a binding offer by Dec. 10.

Two other potential contenders which had expressed interest were the Austrian Lotteries and a joint bid by Sisal, Damco Energy and Damlot.

Privatisations are a key part of Greece’s international bailout, which started in May 2010. But Athens has so far delivered disappointing results, raising about 1.6 billion euros from asset sales and concessions so far.

Greece earlier this month lowered its privatisation target to about 11 billion euros by 2016, far below an original target of 19 billion by the end of 2015.

The country is targeting its first big privatisations from early next year, when it plans to find investors for OPAP itself and natural gas company DEPA.

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