The Hellenic Republic Asset Development Fund (HRADF) in Greece has launched a competitive tender process that will award the right to organise and operate wagering on the nation’s horse races for the next 20 years.
The HRADF was established to manage the privatisation programme for some of Greece’s state-owned entities and revealed that expressions of interest must have been received by April 12.
Previously managed by the Hellenic Horserace Betting Organisation (ODIE), the privatisation of wagering on Greek horse races follows previous programmes that will see the European nation’s lotteries put into private hands along with the 33 percent stake it holds in the OPAP gaming monopoly.
“Interested parties should possess the necessary legal, technical and financial qualifications in order to be eligible to acquire the exclusive right,” read a statement from HRADF.
Following the April deadline, HRADF declared that it will prepare a shortlist of bidders who will then be required to submit binding financial offers to be scrutinised by advisors Emporiki Bank and Credit Agricole in addition to law firms Dryllerakis and Associates Law and Karatzas and Partners.