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Wednesday, December 12, 2012 at 04:08PM
The Consortium for the acquisition of the 12-year concession for the exclusive rights to the production, operation, circulation, promotion and management of the Hellenic Lotteries in Greece, today announces its provisional selection as the successful bidder for the concession. Today’s decision of the Hellenic Republic Assets Development Fund (the “Fund”), is subject to various regulatory approvals, including parliamentary approval.
The Consortium is comprised of companies controlled by OPAP S.A. (ATH: OPAP), Lottomatica Group (MIL: LTO), Scientific Games (Nasdaq: SGMS) and Intralot (ATH: INLOT).
The Consortium, after internal deliberations, offered an upfront payment of €190 million which was accepted by the Fund. In addition, the Consortium guarantees a minimum of €580 million additional payments over the life of the 12 year concession period. Lottomatica decided to exercise its pre-existing option to dilute to one share and transferred its remaining interests to OPAP.
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