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OPAP BOARD APPROVES MULTI-MILLION LICENCE FEE
Friday , September 30, 2011 : Cash-strapped Greek government will get Euro 935 million
Greece’s gambling monopoly OPAP will pay Euro 935 million to the Greek government in order to extend its grip on the market and acquire a new video lottery licence, reports the Reuters news agency.
The OPAP board of directors authorised the expenditure Thursday, clearing the way for an extension of the monopoly for a further ten years from 2020, and the right to install 35 000 video lottery machines across the country.
The licensing coup will make the company more attractive to potential buyers as the government seeks to privatise assets in order to pay down its crippling national debt.
The board gave its initial approval to the proposal of the Greek state for extending the concession for 10 years at a cost of Euro 375 million, an anonymous insider source told Reuters, adding that OPAP will pay a fee of 5 percent on each game's gross profit from 2020 to 2030.
For the 35,000 VLTs, the price is Euro 560 million, of which 474 million will be paid with the signing of the deal, the official said.
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Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
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MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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