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The parlous state of the Greek economy may speed up OPAP disposal

Posted 12/18/10 : Although the privatisation sale of the Greek state gambling monopoly OPAP has been on the cards for some time, the parlous state of the Greek economy may provide more momentum to get the deal done and the cash into state coffers.
 
As the week ended, this was confirmed by the government, which announced a three-year privatisation plan to raise Euros 7 billion (around $9.3 billion), through the sale and exploitation of state companies and other assets including OPAP.
 
The finance ministry said on Thursday that the Socialist government intended to draw "at least one billion euro" in 2011 from the partial sale, joint management or outright privatisation of hundreds of properties.
 
"The aim of the state asset management and privatisation programme, which is in line with Economic and Financial Policy Programme of Greece, is the inflow of revenue amounting to 7 billion euro within the 2011-2013 period, of which at least one billion euro in 2011," a finance ministry spokesman told the Agence France Presse news agency.
 
He went on to reveal that financial and legal advisors will be immediately employed to handle the extension of concession rights for the operation of Athens International Airport, find a strategic investor for state defence contractor EAS and exploit state holdings in gas operators DEPA and DESFA. Greece will also manage its holdings in profitable state betting operator OPAP and invite private investment in two state lotteries and state racetrack operator ODIE, the spokesman added.
 
A long list of other state interests and assets will also be reviewed and offered in a variety of agreements as the country attempts to cut its losses from a host of ailing state enterprises which last year had combined deficits of over Euros 1.7 billion.
Following its close brush with bankruptcy earlier this year, necessitating bailouts from the EU and the IMF, the debt-laden Greek government has implemented a tough austerity strategy which has triggered public unrest from unhappy citizens.

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Gambling News :

Tain Fast Bet - Our readers will recall Tain recently increased the number of live events it covers each month to 23,000, covering both traditional markets such as football, tennis and US sports and the more obscure curling, biathlon and Water Polo.

Olympic Entertainment Group Mobile Gaming - In its full-year 2016 report, Olympic Entertainment Group (OEG) has informed the establishment of a Malta-based company registered to facilitate its intended expansion into remote gambling.

Circus Evolution HD Slot - Malta-based content provider World Match has released its first title of 2017, “Circus Evolution HD”, a 5-reel, 3-row, circus-themed adventure offering Free Spins, Wilds and a Bonus Game.

Kindred Group Gets EU Recommendation on Consumer Protection - Kindred Group (formerly Unibet) has become the first operator to successfully meet the requirements of the EU Recommendation on Consumer Protection and Responsible Gambling following an external audit.

17 Crown people still detained - Reports from China over the weekend suggest that the 17 Crown people still detained could be looking at another twelve months of imprisonment as investigations into their alleged and still unspecified crimes drag on

SB1400 Virginia Poker Skill Game Bill - Her bill SB1400 is currently with the Senate General Laws and Technology Committee, whose 15 members will decide whether to progress it or condemn the Senator to another year of failure.

Pennsylvania Video Gaming Association - With the focus on Pennsylvania as the most likely next US state to legalize online gambling as part of a general gambling expansion measure, reporters noted this week the emergence of a new lobbying group in the state - the Pennsylvania Video Gaming Association.

Stiffer Problem Gambling Penalties in UK - The Guardian newspaper reports that the UK Gambling Commission plans to unveil new enforcement strategies on problem gambling and money laundering prevention this month, laying down tougher penalties for operators who fail to tackle these issues.

Malaysian police Destroy over 5000 Gambling Computers - Malaysian police in Kajang have destroyed 5,042 computer sets seized in online gambling raids over the past two years, explaining that the action is designed to take the machines out of circulation.

Spartan Poker vs SpartanPoker name War - Pokerguru, which owns the brand SpartanPoker.com, has threatened to sue the Indian Poker Championship over its use of the title Spartan Poker, and recently published a notification that it is not associated with the IPC version of the brand.

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