The anticipated sale of the Greek government’s share of lottery and sports betting operator OPAP is being delayed until at least 2012.
In an interview with Reuters, Costas Mitropoulos, CEO of the Hellenic Republic Asset Development Fund, said only that the sale will occur “next year.”
OPAP shares have fallen over 50 percent in the past half year, from a March high of €16.97. However, shares have recovered somewhat after hitting a low of €5.96 in early October. By late October, shares were trading at €7.80.
A public tender for the state lottery is expected very soon, with tenders for the horse-racing and betting organization ODIE possible by the end of 2011.
Greece is looking to raise about €50 billion by 2015 through the sale of government-owned assets.
OPAP recently agreed with the government to extend its monopoly until 2030 and operate 35,000 VLTs in exchange for a payment of €935 million.