December 13,2011 : Hellenic Republic Asset Development Fund ready to move to the next stage
The first stage of the tender for the concession of a licence to operate and manage the Greek State Lotteries, was successfully completed Tuesday, reports the Hellenic Republic Asset Development Fund, the newly established entity with responsibility for managing Greece’s privatisation program.
The Fund confirmed that three Expressions of Interest have been received from high quality, international lottery operators, identified as:
* Osterreichische Lotterien Gesellschaft m.b.H (Austrian Lotteries)
* Consortium of Sisal S.p.A – Damcoenergys.A – Damlota.E, with Sisal S.p.a. as lead member
* Consortium of OPAP Investment Limited – Lottomatica Giochi e Partecipazioni S.r.L – Intralot Lotteries Limited – Scientific Games Global Gaming S.ar.L with OPAP as lead member.
The tender, launched on November 1st, 2011, relates to the award of a 12-year exclusive licence to operate and manage the Greek State Lotteries, which comprise the National Lottery, the Popular Lottery, the European Lottery, the Instant State Lottery (Scratch & Win), the Housing State Lottery and management of the New Year’s Lottery.
Costas Mitropoulos, CEO of the Hellenic Republic Asset Development Fund, said: “The results of the first stage of the process for the Lottery Privatization are very encouraging. Despite the highly uncertain economic environment, high quality international bidders with proven technical and operational expertise in the gaming sector have expressed their interest. The fact that three bidders have expressed their interest is a sign of competition within the process.”
Following the evaluation of the Expressions of Interest and the shortlist of the selected candidates fulfilling the criteria set during the first stage of the process, the HRADF will issue them with the tender documents of the second stage.
Credit Suisse Securities (Europe) Limited and Eurobank EFG Equities Investment Firm S.A. are acting as financial advisors to the Hellenic Republic Asset Development Fund on the tender.